A Multivocal Literature Review on Decentralized Finance: Current Knowledge and Open Research Agenda

Marc Alexander Principato


Since the emergence of blockchain technology from the world financial crisis as a decentral-ized peer-to-peer electronic cash system, financial activity on blockchains has evolved towards being more sophisticated and constituting a whole financial system. To date, this field of De-centralized Finance (DeFi) is novel and still little researched. Our work paves the way for a comprehensive understanding of DeFi by conducting a systematic multivocal literature re-view. We present a comprehensive definition and concept of DeFi. Furthermore, we summa-rize and analyze the current state of knowledge in the literature in a DeFi research framework and then identify urgent topics to be researched in DeFi. We conclude that DeFi is not ready for mainstream adoption as an alternative financial system yet, but it most certainly provides promising features that make research on it a worthwhile endeavor.

Decentralized Finance Blockchain Fintech
Research Methods
Multivocal Literature Review

Publication Data

Author: Marc Alexander Principato
Thesis Type: Bachelor's Thesis
Pages: 89
Language: English
About the Author:
Major / Study Program: Business Administration, Master of Science
Primary Field of Study: Business Administration
Additional Study Interests: Business Informatics,Information Systems Research
License: CC BY 4.0
Date of Publication: 10/31/23
Status: Available
Date of Grading: 08/03/22
Institution: University of Bayreuth (University of Bayreuth, Germany)


Thesis Documents and Supplemental Materials

06/18/24 01:16:25 AM
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