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The De-Central Bank in Decentralized Finance : A Case Study of MakerDAO

Title data

Brennecke, Martin ; Guggenberger, Tobias ; Schellinger, Benjamin ; Urbach, Nils:
The De-Central Bank in Decentralized Finance : A Case Study of MakerDAO.
2022
Event: 55th Hawaii International Conference on System Sciences (HICSS) , Kauai, USA (virtual).
(Conference item: Conference , Speech )

Abstract in another language

Countless decentralized finance (DeFi) applications of the past years have suffered from the high volatility and speculative behavior surrounding their underlying crypto assets. While the academic debate has been flourishing in these areas, Decentralized Autonomous Organizations (DAOs) have not received as much attention. This is the case even though they could offer an opportunity to solve some of the underlying problems of existing cryptocurrencies and ecosystems, for example, by providing lower volatility and, thus, exchange rate stability. This paper presents an economic analysis of the MakerDAO, a DAO in DeFi. In doing so, we use a single case study methodology based on existing resources and expert interviews. It also uses monetary theory instruments to provide researchers and developers with insights into how DAOs are governed. Further, it serves to illustrate how IS research may support the development of future IT artifacts aimed at offering the infrastructure for DeFi applications.

Further data

Item Type: Conference item (Speech)
Refereed: Yes
Keywords: blockchain; defi; decentralized autonomous organization; monetary theory; stablecoin
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Business Administration
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration XVII - Information Systems and Value-Based Business Process Management
Research Institutions
Research Institutions > Affiliated Institutes
Research Institutions > Affiliated Institutes > Fraunhofer Project Group Business and Information Systems Engineering
Research Institutions > Affiliated Institutes > FIM Research Center Finance & Information Management
Result of work at the UBT: Yes
DDC Subjects: 000 Computer Science, information, general works > 004 Computer science
300 Social sciences > 330 Economics
Date Deposited: 04 Oct 2021 10:19
Last Modified: 04 Oct 2021 10:19
URI: https://eref.uni-bayreuth.de/id/eprint/67152