Decentralized Finance (DeFi) vs. Centralized Finance (CeFi)

Constitutional Implications and Power Misuse in India

Authors

DOI:

https://doi.org/10.36676/sjmbt.v2.iSpecial.48

Keywords:

Decentralized Finance (DeFi), Centralized Finance (CeFi), Constitutional Implications, Power Misuse in India

Abstract

This research paper explores the dichotomy between Centralized Finance (CeFi) and Decentralized Finance (DeFi) within the context of the Indian Constitution. It critically analyzes the constitutional implications of both systems, particularly focusing on how centralized authorities may misuse their power to curtail freedoms guaranteed under the Constitution. Additionally, the paper investigates how DeFi can support constitutional values such as privacy, freedom of trade, and equality. Finally, it examines how centralized authorities are actively hindering DeFi-based implementations to maintain control over financial systems, thereby compromising democratic principles.

References

Punjab National Bank (PNB) Fraud (2018)

- Source: The Economic Times

Link: [PNB Fraud Explained]

(https://economictimes.indiatimes.com/industry/banking/finance/banking/pnb-scam-how-the-fraud-happened-and-methods-used-by-nirav-modi/articleshow/62858498.cms)

Yes Bank Crisis (2020)

- Source: Livemint

Link: [Yes Bank Crisis: A Timeline]

(https://www.livemint.com/industry/banking/yes-bank-crisis-key-highlights-from-yes-bank-s-turbulent-journey-11583326063755.html)

Lehman Brothers Collapse and the 2008 Financial Crisis

- Source: The Guardian

Link: [How Lehman Brothers' Collapse Triggered the Global Financial Crisis]

(https://www.theguardian.com/business/2018/sep/14/lehman-brothers-collapse-what-has-happened-since-2008-financial-crisis)

Satyam Scandal (2009)

- Source: Forbes

Link: [The Satyam Scandal: India's Enron] (https://www.forbes.com/2009/01/13/satyam-computers-fraud-lead-corp-citizen-cx_pm_0113citizenindia.html)

2008 Global Financial Crisis

- Source: Harvard Business Review

Link: [Understanding the Financial Crisis] (https://hbr.org/2009/09/understanding-the-financial-crisis)

The Role of Risk Mismanagement in the 2008 Crisis

- Source: The New York Times

Link: [How Risk Mismanagement Caused the Crisis]

(https://www.nytimes.com/2008/10/09/business/worldbusiness/09iht-09meltzer.16858113.html)

Downloads

Published

2024-10-26

How to Cite

Ashutosh. (2024). Decentralized Finance (DeFi) vs. Centralized Finance (CeFi): Constitutional Implications and Power Misuse in India. Scientific Journal of Metaverse and Blockchain Technologies, 2(Special), 1–11. https://doi.org/10.36676/sjmbt.v2.iSpecial.48
PlumX Metrics

Issue

Section

Original Research Articles

Categories