INNOVATIVE ECONOMYINNOVATIVE ECONOMYИнновационная экономика2413-560748963ArticlesСтатьиResearch ArticleStages of the development of the concept of decentralized finance in the global economy: from new institutional economy to DEFIЭтапы развития концепции децентрализованных финансов в глобальной экономике: от новой институциональной экономики до DeFiDorokhovVictor VitalievichДороховВиктор Витальевич

Postgraduate Student of the Department of Finance and Credit, Faculty of Economics

Аспирант кафедры «Финансы и кредит», Экономического факультета

victor.v.dorokhov@gmail.comhttps://orcid.org/0000-0002-5174-8962570218158004511-1442GlavinaSofya GrigorievnaГлавинаСофья Григорьевна

PhD in Economics, Head of the Digital Economy Department at IMED RUDN University

К.э.н, руководитель «Цифровая экономика» ИМЭБ РУДН

glavina-sg@rudn.ruPeoples' Friendship University of Russia named after Patrice Lumumba (RUDN University)Российский университет дружбы народов им. П. Лумумбы (РУДН)Peoples' Friendship University of Russia named after Patrice Lumumba (RUDN University)Российский университет дружбы народов им. П.Лумумбы (РУДН)170320261041703202617032026Copyright ©; 2026, INNOVATIVE ECONOMYCopyright ©; 2026, Инновационная экономика2026INNOVATIVE ECONOMYИнновационная экономикаhttps://journals.rudn.ru/in-econ/article/view/48963

In this article, the authors examine the concept of decentralized finance (DeFi) in the context of the evolutionary genesis of its key principles and ideas. The basic principles of Blockchain technology and smart contracts are considered. The stages of evolution of the concept of decentralized finance and Blockchain technology are analyzed both from the perspective of development as a monetary system and from the point of view of the principles of the New Institutional Economic Theory. As a result, the authors came to the conclusion that the concept of decentralized finance and Blockchain technology provide a number of opportunities to solve many problems associated with both dilemmas of economic theory and conceptual problems of financial services markets.

В статье авторами рассматривается концепция децентрализованных финансов (DeFi) в контексте эволюционного генезиза ее ключевых принципов и идей. Раскрываются базовые принципы технологии блокчейн и смарт-контрактов. Проводится анализ этапов эволюции концепции децентрализованных финансов и технологии блокчейн как с позиции развития в качестве денежной системы, так и с точки зрения принципов Новой институциональной экономической теории. В результате исследования авторы пришли к выводу, что концепция децентрализованных финансов и технология блокчейн предоставляют ряд возможностей по решению множества проблем, связанных как с дилеммами экономической теории, так и концептуальными задачами рынков финансовых услуг.

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