We are living through the rapid growth of the digital asset industry. It began with the genesis
Question:
We are living through the rapid growth of the digital asset industry. It began with the genesis of Bitcoin, on the 3 Jan 2009, as the first cryptocurrency and to-date, accordingly to CoinMarketCap, there are more than 14,000 digital assets culminating to a total of market capitalization of more than $2 trillion. With the growth and popularity of these digital assets, we are now witnessing the next exciting phase of the digital asset industry, namely the burgeoning distributed finance or DeFi businesses.
(a) Describe and discuss the necessary building blocks for a DeFi application/business.
(b) With an increasing number of digital assets listed in exchanges, recommend, and justify a digital asset that will perform well if the boom in DeFi continues.
Auditing and Assurance services an integrated approach
ISBN: 978-0134065823
16th edition
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan