What is decentralized finance? An expert on bitcoins and blockchains explains the risks and rewards of DeFi
- Written by Kevin Werbach, Professor of Legal Studies and Business Ethics, University of Pennsylvania
Bitcoins may finally be good for more than just speculation and making buttons. AP Photo/Frank JordansFervent proponents of cryptocurrencies and the blockchains they run on have promised a lot.
To them, these technologies represent salvation from corporate power over the internet, government intrusions on liberty, poverty and virtually everything...

















