University of Illinois Urbana-Champaign

Cryptogatekeepers in decentralized finance: Conflicts of interest and prospective solutions

Villanueva Collao, Vanessa A.

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https://hdl.handle.net/2142/127208

Description

Title
Cryptogatekeepers in decentralized finance: Conflicts of interest and prospective solutions
Author(s)
Villanueva Collao, Vanessa A.
Issue Date
2024-11-25
Director of Research (if dissertation) or Advisor (if thesis)
Winship, Verity
Doctoral Committee Chair(s)
Winship, Verity
Committee Member(s)
  • Aviram, Amitai
  • McClane, Jeremy
  • Ulen, Thomas S.
Department of Study
Law
Discipline
Law
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
J.S.D.
Degree Level
Dissertation
Keyword(s)
  • DeFi
  • Blockchain
  • Corporate Law
  • Cryptomarkets
  • Conflicts of Interest
  • Interviews
  • Law and Technology
  • Webcontent analysis
Abstract
Blockchain is commonly understood as a trustless system for electronic transactions characterized by decentralization and disintermediation. This innovation has enabled the technological distribution of financial services known as Decentralized Finance or DeFi. DeFi allegedly eliminates financial intermediaries, considered complicit in financial crises, and seen with distrust. As a result, intermediaries are substituted with platforms, thus allegedly eliminating conflicts of interest between promoters and investors in DeFi. Nevertheless, intermediaries in DeFi exist but under a different guise. The demand for intermediaries has increased to facilitate transactions as they become more complex. With their appearance, they perform some of the functions of traditional intermediaries. This dissertation’s goal is to contribute to the foundational understanding and systematization of DeFi. The purpose of this understanding is to debunk the myth of disintermediation, demonstrating that some intermediaries remain. Moreover, this interpretative step helps identify remaining intermediaries, examine the conflicts of interest among actors in cryptomarkets, and suggest how intermediaries may mitigate these conflicts.
Graduation Semester
2024-12
Type of Resource
Thesis
Handle URL
https://hdl.handle.net/2142/127208
Copyright and License Information
Copyright 2024 Vanessa Villanueva Collao

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