This course is part of the Decentralized Finance (DeFi): The Future of Finance Specialization

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Cam Harvey

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Decentralized Finance (DeFi): The Future of Finance SpecializationDuke University

About this Course

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Decentralized Finance: The Future of Finance is a set of four courses taught by Campbell R. Harvey (Professor of Finance at the Fuqua School of Business, Duke University, and a Research Associate of the National Bureau of Economic Research) that focus on decentralized finance (DeFi). In this first course, we begin by exploring the origins of DeFi and take a broad historical view from the earliest barter economies, such as the first peer-to-peer exchanges of bartering, to present day. The course also looks at historical examples of money having value even though it is not officially backed. 
We then focus on the key infrastructure components: blockchain, cryptocurrency, smart contracts, oracles, stablecoins and decentralized applications (or dApps). This includes discussion of the mechanics of the Ethereum and Bitcoin blockchains including cryptographic hashing.  

Next, we focus on the specific problems that DeFi is designed to solve: inefficiency (costly, slow, and insecure today), limited access (1.7 billion are unbanked), opacity (we need to trust regulators to monitor banks and the regulators have mixed records), centralized control (financial system is oligopolistic imposing higher fees than we would have in a competitive market) and lack of interoperability (it is difficult to move funds from one financial institution to another today). The course closes by exploring many of the myths about the crypto space.

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Course 1 of 4 in the

Decentralized Finance (DeFi): The Future of Finance Specialization

Beginner Level

Having some background knowledge of interest rate mechanics; basic financial concepts; familiarity with collateral; and money supply is helpful.

Approx. 6 hours to complete

English

Subtitles: English

What you will learn

Articulate the history and origins of decentralized finance
Define the key components of decentralized finance's infrastructure
Explain which problems decentralized finance is designed to solve and how
Identify myths or common misconceptions about decentralized finance

Skills you will gain

Cryptography
Smart Contract
Decentralized Protocols
governance
Blockchain Mechanics

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Course 1 of 4 in the

Decentralized Finance (DeFi): The Future of Finance Specialization

Beginner Level

Having some background knowledge of interest rate mechanics; basic financial concepts; familiarity with collateral; and money supply is helpful.

Approx. 6 hours to complete

English

Subtitles: English

Instructor

Instructor rating

4.76/5 (358 Ratings)

Cam Harvey

Professor of Decentralized Finance

Fuqua School of Business

42,006 Learners

5 Courses

Offered by

Duke University

Duke University has about 13,000 undergraduate and graduate students and a world-class faculty helping to expand the frontiers of knowledge. The university has a strong commitment to applying knowledge in service to society, both near its North Carolina campus and around the world.

Syllabus - What you will learn from this course

Content Rating98%(1,013 ratings)

Week

Week 1

2 hours to complete

The History of Decentralized Finance

This module provides a historical perspective of exchange beginning with early barter, specie currency (backed by, e.g., gold), fiat currency and electronic transfers. The module introduces some of the key problems that have arisen with the current system. It closes with the introduction to Satoshi Nakamoto’s famous 2008 paper which introduced cryptocurrency.

2 hours to complete

6 videos (Total 71 min), 2 readings, 1 quiz

Week

Week 2

2 hours to complete

DeFi Foundations

This module introduces the key foundations for DeFi, starting with the mechanics of blockchain including cryptographic hashing. The module then explores the innovation of smart contracting - a key ingredient for DeFi. There is also a discussion of the differences between the first cryptos and stablecoins.

2 hours to complete

6 videos (Total 78 min)

Week

Week 3

1 hour to complete

Problems DeFi Solves

This module explores the key problems with today’s legacy financial system which include: inefficiency (costly, slow, and insecure transactions); limited access (many cannot access banks and many that have bank accounts find it difficult to get loans); opacity (it is unclear how healthy our commercial financial institutions are); centralized control (current system is dominated by oligopolies that push prices higher than competitive prices) and interoperability (difficulty in moving funds across different legacy financial institutions).

1 hour to complete

5 videos (Total 51 min)

Week

Week 4

1 hour to complete

DeFi Myths and Facts

The final module explores various different myths including: all cryptocurrencies are anonymous; blockchains are routinely hacked; quantum computing will destroy all blockchain based currencies; and the crypto ecosystem is so small that it is unlikely to compete with legacy financial institutions.

1 hour to complete

2 videos (Total 28 min)

Reviews

4.8

193 reviews

5 stars
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3 stars
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2 stars
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TOP REVIEWS FROM DECENTRALIZED FINANCE (DEFI) INFRASTRUCTURE

by GCMar 15, 2022

very high level, very short course

maybe could have more support material to go deeper into some topics but i guess we will do that on part 2 , 3 and 4

by BGJan 27, 2022

Loved the way Professor Harvey explains the newly minted ideas in DeFi space. Excellent course.

Indeed, the future is DeFi. Let the wealth (?) spread across the globe, evenly!

by FJDec 12, 2021

The course is useful but too much jargon is thrown around in the various models, making it very hard to keep up or truly understand their meaning.

by HBJan 30, 2022

THIS IS A GREAT COURSE, VERY WELL EXPLAINED, THE TEACHER DOES REALLY WELL DOING ANALOGES WHILE GOING TROUGH CONCEPTS, I RECOMMEND IT 100%

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About the Decentralized Finance (DeFi): The Future of Finance Specialization

DeFi and the Future of Finance is a four course learning experience. DeFi or Decentralized Finance is a new technology whereby users interact as peers with algorithms or smart contracts rather than through traditional intermediaries such as banks, brokerages or insurance companies. The technology has the potential to transform finance as we know it. It solves key problems in traditional finance such as lack of inclusion, inefficiency, opacity, centralized control and lack of interoperability.

The first course, DeFi Infrastructure, focuses on the historical evolution of decentralized finance as well as the problems that DeFi solves. The second course, DeFi Primitives, deals with mechanics, supply and ownership, and loans and swaps. The third course, DeFi Deep Dive, explores the leading protocols including MakerDAO, Compound, Aave, Uniswap and dYdX. The fourth course, DeFi Risks and Opportunities, analyzes the key risks including smart contract risk, governance risk, scaling as well as regulatory issues. The final part of the course sketches a vision of finance in the future including the winners and the losers.

Decentralized Finance (DeFi): The Future of Finance

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I subscribe to this Specialization?
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.
Will I receive a transcript from Duke University for completing this course?
No. Completion of a Coursera course does not earn you academic credit from Duke; therefore, Duke is not able to provide you with a university transcript. However, your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile.

More questions? Visit the Learner Help Center.

Decentralized Finance (DeFi) Infrastructure