The economic value of decentralised finance

<div>Cryptocurrencies have become more popular and established in recent years. Simultaneously, crypto financial services, like lending, have also emerged.<br> <br> Given the increasing importance of digitalisation, it is fair to ask whether these digital decentralised services will become established and normalised. <br> <br> In this episode of The sound of economics, <a href="https://www.bruegel.org/people/giuseppe-porcaro">Giuseppe Porcaro</a> invites <a href="https://www.bruegel.org/people/maria-demertzis">Maria Demertzis</a> and <a href="https://www.bruegel.org/people/catarina-martins">Catarina Martins</a> to discuss the current and future role of decentralised finance in the financial system. <br> <br> Together they examine whether and how the crypto world contributes to the main objectives of the financial system: reducing search costs and financing growth.<br> <strong><br> Relevant publication: </strong><br> Demertzis, M. and C. Martins (2023) ‘<a href="https://www.bruegel.org/policy-brief/decentralised-finance-good-technology-bad-finance">Decentralised finance: good technology, bad finance</a>’ Policy Brief 09/2023, Bruegel </div>