Decentralized finance (DeFi): a paradigm shift in the Fintech

R Xu, J Zhu, L Yang, Y Lu, LD Xu - Enterprise Information Systems, 2024 - Taylor & Francis
The financial landscape is undergoing a revolution with the Decentralized Finance (DeFi),
poised to reshape business value creation. This study provides an overview of research …

Value creation and capture in decentralized finance markets: Non-fungible tokens as a class of digital assets

J Schwiderowski, AB Pedersen, JK Jensen, R Beck - Electronic Markets, 2023 - Springer
Abstract Information technology (IT) has radically changed the financial services industry,
with the most recent transformation toward Fintech and decentralized finance (DeFi), driven …

Can ChatGPT improve investment decisions? From a portfolio management perspective

H Ko, J Lee - Finance Research Letters, 2024 - Elsevier
We examine ChatGPT, a prominent Large Language Model (LLM), in supporting portfolio
management with a focus on asset selection and diversification through quantitative …

GameFi: The perfect symbiosis of blockchain, tokens, DeFi, and NFTs?

J Proelss, S Sévigny, D Schweizer - International Review of Financial …, 2023 - Elsevier
GameFi is a portmanteau of “game” and “finance.” The concept involves blockchain games
that offer economic incentives to play, otherwise known as play-to-earn (P2E) games. We …

A privacy-preserving robo-advisory system with the Black-Litterman portfolio model: A new framework and insights into investor behavior

H Ko, J Byun, J Lee - Journal of International Financial Markets, Institutions …, 2023 - Elsevier
Recent financial sector changes, including strict privacy regulations, challenge robo-
advisory companies with cybersecurity and data privacy. This study proposes a new …

Relationship of green cryptocurrencies, energy tokens, centralized and decentralized exchange tokens with crypto policy uncertainty

RM Nasir, F He, I Yousaf - Research in International Business and Finance, 2025 - Elsevier
We investigate the relationship of green cryptocurrencies, energy tokens, and centralized
and decentralized exchange tokens with crypto policy uncertainty. We employ a novel …

What drives the return and volatility spillover between DeFis and cryptocurrencies?

A Assaf, E Demir, O Ersan - International Journal of Finance & …, 2024 - Wiley Online Library
In this paper, we study the return and volatility connectedness between cryptocurrencies and
DeFi Tokens, considering the impact of different uncertainty indices on their connectivity …

Portfolio Management Transformed: An Enhanced Black–Litterman Approach Integrating Asset Pricing Theory and Machine Learning

H Ko, J Lee - Computational Economics, 2025 - Springer
This study proposes a novel Black–Litterman portfolio model that leverages machine
learning predictions based on size, book-to-market, momentum, and volatility. Our model …

Evaluating dependence between DeFi tokens and conventional cryptocurrencies

CC Huang, CC Hsu - Applied Economics Letters, 2024 - Taylor & Francis
This study analyzes the dependence structures of eight leading decentralized finance
tokens using the GARCH-EVT-Copula models. The empirical results indicated that the …

Устойчивые инновации и регулирование: эко-система децентрализованных и централизованных финансов

ЛИ Мергалиева, СЧ Примбетова - Economy: strategy and practice, 2025 - esp.ieconom.kz
Аннотация Данное исследование посвящено продолжающейся дискуссии между
децентрализованными финансами (DeFi) и централизованными финансами (CeFi), с …