About this Course
Decentralized Finance: The Way forward for Finance is a set of 4 programs taught by Campbell R. Harvey (Professor of Finance on the Fuqua Faculty of Enterprise, Duke College, and a Analysis Affiliate of the Nationwide Bureau of Financial Analysis) that concentrate on decentralized finance (DeFi). On this first course, we start by exploring the origins of DeFi and take a broad historic view from the earliest barter economies, akin to the primary peer-to-peer exchanges of bartering, to current day. The course additionally appears at historic examples of cash having worth regardless that it isn’t formally backed.
WHAT YOU WILL LEARN
Articulate the historical past and origins of decentralized finance
Outline the important thing parts of decentralized finance’s infrastructure
Clarify which issues decentralized finance is designed to resolve and the way
Determine myths or frequent misconceptions about decentralized finance
SKILLS YOU WILL GAIN
- Cryptography
- Good Contract
- Decentralized Protocols
- governance
- Blockchain Mechanics
Syllabus – What you’ll study from this course
2 hours to finish
The Historical past of Decentralized Finance
This module gives a historic perspective of alternate starting with early barter, specie forex (backed by, e.g., gold), fiat forex and digital transfers. The module introduces a number of the key issues which have arisen with the present system. It closes with the introduction to Satoshi Nakamoto’s well-known 2008 paper which launched cryptocurrency.
2 hours to finish
DeFi Foundations
This module introduces the important thing foundations for DeFi, beginning with the mechanics of blockchain together with cryptographic hashing. The module then explores the innovation of sensible contracting – a key ingredient for DeFi. There may be additionally a dialogue of the variations between the primary cryptos and stablecoins.
1 hour to finish
Issues DeFi Solves
This module explores the important thing issues with as we speak’s legacy monetary system which embody: inefficiency (expensive, sluggish, and insecure transactions); restricted entry (many can not entry banks and many who have financial institution accounts discover it tough to get loans); opacity (it’s unclear how wholesome our business monetary establishments are); centralized management (present system is dominated by oligopolies that push costs increased than aggressive costs) and interoperability (problem in shifting funds throughout totally different legacy monetary establishments).
1 hour to finish
DeFi Myths and Info
The ultimate module explores numerous totally different myths together with: all cryptocurrencies are nameless; blockchains are routinely hacked; quantum computing will destroy all blockchain primarily based currencies; and the crypto ecosystem is so small that it’s unlikely to compete with legacy monetary establishments.
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