scholarly journals Challenges and Approaches to Regulating Decentralized Finance

AJIL Unbound ◽  
2021 ◽  
Vol 115 ◽  
pp. 425-429
Author(s):  
Iwa Salami
Keyword(s):  
Open Source ◽  
Financial Institutions ◽  
Peer Interactions ◽  
Financial System ◽  
Peer To Peer ◽  
Central Authority ◽  
Internet Connectivity ◽  
Financial Applications ◽  
Smart Contract ◽  
Full Control

Decentralized finance (DeFi) is an ecosystem of financial applications that are built on top of blockchain networks. DeFi aims to create an open-source, permissionless, and transparent financial system that operates without any central authority. Instead, a smart contract—which is a self-executing contract with the terms of the agreement between transacting parties written into lines of code—replaces financial institutions in the transaction. As a result, DeFi is available to everyone with reliable access to electricity and Internet connectivity. It also serves as a form of non-custodial finance since users maintain full control of their assets and transact through smart contract programs that facilitate peer-to-peer interactions. While DeFi presents huge opportunities, it also poses significant risks to traditional finance ecosystems, including the use of stablecoins and the absence of a know-your-customer framework. This essay argues that for DeFi to secure credibility, it needs to be adequately regulated in a way that aligns with how the technology works.

scholarly journals Vote Validation using Blockchain Technology: A Conceptual Use Case

2020 ◽  
Vol 4 (4) ◽  
Author(s):  
Frankline Makokha
Keyword(s):  
Peer To Peer ◽  
Use Cases ◽  
Use Case ◽  
Central Authority ◽  
Distributed Consensus ◽  
Blockchain Technology ◽  
Smart Contract ◽  
Computing Technologies ◽  
Main Component ◽  
Clear Description

Blockchain Technology is one of the computing technologies touted to likely bring about disruption in ways people conduct their transactions. By design, blockchains are decentralized, peer to peer, distributed consensus, and have anonymity property thus eliminating the need for a central Authority. Blockchain has been widely used in crypto currencies, with other uses lip frogging at slower paces.  This paper explores the various uses cases that have been advanced for blockchain highlighting the shortcomings of the listed cases. The paper expounds more on usage of blockchain in electoral processes, analyzing existing voting use cases and identifying the shortcomings of the listed blockchain voting use cases. A more elaborate voting use case is conceptualized with clear description on how to generate Digital Votes, linked to a NONCE and previous Digital Votes. The process of vote validation is explained with the main component of the blockchain voting being highlighted as the Smart Contract.

scholarly journals Bitcoin sebagai Alat Pembayaran Online dalam Perdagangan Internasional

2016 ◽  
pp. 122-138
Author(s):  
Dwikky Ananda Rinaldi ◽  
Mokhamad Khoirul Huda
Keyword(s):  
Open Source ◽  
Financial Institutions ◽  
National Economy ◽  
Financial Sector ◽  
Peer To Peer ◽  
Raw Material ◽  
Peer Network ◽  
Economic Need ◽  
Electronic Coin ◽  
Peer To Peer Network

The growth of national economy encourages a significant change in the financial sector, especially a means of payment. Starting from the barter, the means then changes to be the goods or commodities, and finally the metal and paper as a raw material of money. The form of money as a means of payment continuously changes namely in the form of checks and transfer form that allow payment through transferring funds from the account balances among financial institutions, especially the banks. The economic need continuously grows so that it shifts the ways of trade transactions from conventional to internet based one that is known as e-commerce. One of the International online payment means required in an e-commerce transaction is Bitcoin. Bitcoin is an electronic coin that uses a system of peer-to-peer network that is open source. Bitcoin is not a virtual coin and not the legal means of payment in Indonesia. The legal means in Indonesia is the rupiah. It has been described in Article 1 section (2) of Act No. 7 of 2011 on Currencies that the the coin used for payment transactions in Indonesia is the rupiah.

Critical Analysis of the Zero Risk Weight Privilege for European Sovereign Debt in Light of Art. 124 TFEU

2020 ◽  
Vol 17 (1) ◽  
Author(s):  
Patrick Hauser
Keyword(s):  
Financial Institutions ◽  
Sovereign Debt ◽  
Banking System ◽  
Financial System ◽  
Significant Risk ◽  
Capital Adequacy ◽  
Individual Member ◽  
Member States ◽  
The Individual ◽  
Credit Institutions

AbstractThe zero risk weight privilege for European sovereign debt in the current capital adequacy requirements for credit institutions incentivises credit institutions to acquire and hold sovereign debt. However, it also poses a significant risk to the stability of the banking system and thus the financial system as a whole. It is argued that this privilege should not only be abolished due to the risk it entails but that it is also non conformant with EU primary law. Art. 124 TFEU prohibits privileged access of the EU and Member States' public sector to financial institutions except for prudential considerations. The protective purpose of Art. 124 TFEU to ensure sound budgetary policies by subjecting public borrowing to the same rules as borrowing by other market participants is thwarted by the uniform zero risk weight privilege. Further, as this privilege does not take into account the varying creditworthiness of the individual Member States it does not promote the soundness of financial institutions so as to strengthen the soundness of the financial system as whole, but rather endangers systemic stability. The zero risk weight privilege is therefore not based on prudential considerations and hence violates Art. 124 TFEU.

scholarly journals Writing to learn and learning to write across the disciplines: Peer-to-peer writing in introductory-level MOOCs

2014 ◽  
Vol 15 (5) ◽  
Author(s):  
Denise K. Comer ◽  
Charlotte R. Clark ◽  
Dorian A. Canelas
Keyword(s):  
Online Courses ◽  
Peer Interactions ◽  
Peer Assessment ◽  
Peer To Peer ◽  
Writing To Learn ◽  
Massive Open Online Courses ◽  
Pedagogical Practice ◽  
Written Form ◽  
Composition I ◽  
English Composition I

<p>This study aimed to evaluate how peer-to-peer interactions through writing impact student learning in introductory-level massive open online courses (MOOCs) across disciplines. This article presents the results of a qualitative coding analysis of peer-to-peer interactions in two introductory level MOOCs: English Composition I: Achieving Expertise and Introduction to Chemistry. Results indicate that peer-to-peer interactions in writing through the forums and through peer assessment enhance learner understanding, link to course learning objectives, and generally contribute positively to the learning environment. Moreover, because forum interactions and peer review occur in written form, our research contributes to open distance learning (ODL) scholarship by highlighting the importance of writing to learn as a significant pedagogical practice that should be encouraged more in MOOCs across disciplines.</p>

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