Project Pine is a joint research study by the New York Fed's New York Innovation Center and the BIS Innovation Hub Swiss Centre that explores if and how central banks can implement monetary policy in a potential future state where the financial sector widely adopts tokenisation in wholesale markets.

Blockchain-based smart contracts can potentially replace certain traditional contracts through decentralized enforcement and reduced transaction costs. However, scalability is a key bottleneck hindering their broader application and adoption, often leading to concentrated or exclusive networks....

Decentralised finance (DeFi) has attracted attention from investors and regulators, as the latest and arguably most innovative development in the crypto area. This article assesses the development of DeFi, its distinctive features, and the risks it raises to ESMA's objectives, with a view to...

In this work, we systematically analyse the differences and similarities between CeFi (Centralised Finance) and DeFi (Decentralised Finance). Financial technology is rapidly expanding, and large technology firms are making advances in credit markets. The Internet of Value (IOV), with its...

This paper empirically explores the early development of insurance projects in the decentralized finance (DeFi) industry, which is based on disruptive technologies like blockchain and smart contracts. A brief history of DeFi is narrated stressing four risks of DeFi (volatility risk, cyberattack...

Energy management can be designed from different perspectives including production, distribution, and consumption. Focusing on consumption perspective, manufacturing systems can be enhanced by enabling smart machines as agents which operate with their own knowledge representation models in a...