| |
| author |
Harrison Neal
| | title |
Revolutionizing Central Banking: Demystifying Decentralized Finance Technology and its Integration within the Federal Reserve System
| | abstract |
This thesis explores the topic of decentralized finance, with a focus on demystifying
relevant technologies and exposing their potential uses. It argues that Blockchain, cryptography,
and smart contracts can offer the potential for increased security, traceability, and efficiency in
financial transactions compared to traditional methods. The thesis also highlights how the
Federal Reserve functions in stable environments and during economic crises. By understanding
the Federal Reserve's critical role in stabilizing the economy, demonstrates that the FED's
current infrastructure has limitations, and explores the potential integration of DeFi technologies
into the Federal Reserve's operation. It examines how Fedcoin and citizen Fed accounts could
offer beneficial applications, acting as a distributed ledger system. The thesis concludes that the
introduction of DeFi technology to America's central bank could create significant economic
efficiencies and provide many social benefits. With the support of the Federal Reserve in the
implementation of efficient DeFi technology, the economy and marketplace could have the
opportunity to flourish in the future. Ultimately, the thesis argues that the integration of DeFi
technology can create a more secure, transparent, and efficient financial system, ultimately
benefiting the nation and potentially the global economy as a whole. By embracing and
leveraging DeFi technology, the Federal Reserve can position itself as a leader in innovation and
ensure that it remains at the forefront of financial technology development.
| | school |
The College of Liberal Arts, Drew University
| | degree |
B.A. (2023)
|
| advisor |
Dr. David Anderson
|
| full text | HNeal.pdf |
| |
