DeFi and the Future of Finance
Session 3 - XXXV Conference of Central Banks and Official Institutions: A glimpse into the future
About this Session
The world of finance will fundamentally be changed over the coming decade. This session is about how to become part of the disruption – not the target of the disruption Campbell R. Harvey will talk about his latest book DeFi and the Future of Finance about the problems with the current financial system and how DeFi solves many of these problems. The essence of DeFi is that we interact with peers—there is no brick and mortar and all of the associated costs. Savings and lending are reinvented. Trading takes place with algorithms far removed from traditional brokerages. As with any new technology, there are a myriad of risks and the author carefully catalogue these risks and assess which ones can be successfully mitigated.
Guest Speaker
Campbell R. Harvey
Professor of Finance at the Fuqua School of Business, Duke UniversityProfessor of Finance at the Fuqua School of Business, Duke University and a Research Associate of the National Bureau of Economic Research in Cambridge, Massachusetts. He served as President of the American Finance Association in 2016.Professor Harvey obtained his doctorate at the University of Chicago in business finance. He has served on the faculties of the Stockholm School of Economics, the Helsinki School of Economics, and the Booth School of Business at the University of Chicago. He has also been a visiting scholar at the Board of Governors of the Federal Reserve System. He was awarded an honorary doctorate from Svenska Handelshögskolan in Helsinki. He is a Fellow of the American Finance Association. Harvey received the 2016 and 2015 Best Paper Awards from The Journal of Portfolio Management for his research on distinguishing luck from skill. He has also received eight Graham and Dodd Awards/Scrolls for excellence in financial writing from the CFA Institute. He has published over 150 scholarly articles on topics spanning investment finance, emerging markets, corporate finance, behavioral finance, financial econometrics and computer science. Harvey is a Founding Director of the Duke-CFO Survey. This widely watched quarterly survey polls over 1,500 CFOs worldwide. Harvey serves Partner and Senior Advisor at Research Affiliates, LLC who oversees over $180 billion in client funds as well as Investment Strategy Advisor to the Man Group plc, the world’s largest, publicly listed, global hedge fund provider. Harvey edited the Journal of Finance – the leading scientific journal in his field and one of the premier journals in the economic profession from 2006-2012. Over the past seven years, Professor Harvey has taught “Innovation and Cryptoventures” at Duke University. The course focuses on blockchain technology and decentralized finance. He also teaches "Tech Driven Transformation of Business" and "International Finance".
Moderator
Iker Zubizarreta
Chief Investments and Financial Officer, FLARMr. Iker Zubizarreta is Chief Financial and Investment Officer at Latin-American Reserves Fund (FLAR) based in Bogotá. In 2005, he joined FLAR as Director of Financial Research. In 1991, Mr. Zubizarreta began his career at the Central Bank of Venezuela’s International Investments Department, where until 2005, he held several positions from Portfolio Manager, and Head of Financial Risk Management, to Deputy Head of International Investments Department, and Technical Coordinator of International Reserves. In 1997 Mr. Zubizarreta obtained an MBA from the Massachusetts Institute of Technology Sloan School of Management, with a track in financial engineering. In 1989 he obtained a BS in Business Administration, Summa Cum Laude, from Barton College, North Carolina.