I am looking forward to an interesting panel discussion at the Token Summit Liechtenstein 2023 with a highly relevant topic.
Possible discussion points that I see:
MiCA and DeFi
Is decentralisation according to MiCA* possible on the various DeFi levels (according to Fabian Schär):
- Settlement / Asset Layer
- Protocol / Application / Aggregation Layer?
If yes, what would be a minimum viable decentralization?
*Recital 22 of the MiCAR “where crypto-asset services are provided in a fully decentralised manner without any intermediary, they should not fall within the scope of this Regulation”
Status Quo: DeFi and decentralisation
Theoretical questions: will DeFi not always be centralised to a certain extend? Is a minimum viable decentralisation possible?
Practical question: are there existing protocols which could be labeled as minimum viable decentralised?
Outlook: real financial world and decentralisation
Will blockchain end up as a more or less decentralised settlement / asset layer, enabling highly centralised and (MiCA) regulated protocols and applications running on it?
Will the predominant protocols and applications prioritize efficiency and network effects over decentralization, paralleling the evolution of the internet?