Financial and Banking Strategic Studies

A scientometric analysis of decentralized financial ecosystems: trends and future directions

Document Type : Original Article

Authors

Mostafa Shabani
Sina Tavakoli
Sanaz Karimi
Emran Mohammadi

Department of Industrial Engineering, Iran University of Science and Technology, Tehran, Iran.

https://doi.org/10.22105/fbs.2025.500474.1146
Abstract
Purpose: This study analyzes the Decentralized Finance (DeFi) ecosystem and the impact of blockchain technologies on it. The primary objective is to identify key trends and emerging research areas, and to provide strategic insights into the future of this nascent industry. The need for this research arises from the fact that DeFi, as one of the most significant economic and technological transformations, is still in its early stages of development and requires thorough scientific examination to guide future research directions.
Methodology: This study employs a scientometric approach. Research data were extracted from leading academic databases, comprising 601 articles on the DeFi ecosystem spanning 1990 to 2024. Data analysis was conducted based on indicators such as sources, authors, countries, institutions, articles, and keywords. Additionally, quantitative analysis methods were used to examine publication trends and identify research gaps.
Findings: The study reveals significant recent growth in the DeFi ecosystem, with diverse research areas emerging. Most related articles have been published in recent years, and leading countries, institutions, and researchers have been identified. Key topics include blockchain technology and smart contracts, highlighting the field's importance in academia and revealing its strengths and gaps in existing research.
Originality/Value: This study provides a comprehensive analysis of the DeFi ecosystem and outlines future research directions, offering valuable insights for researchers and policymakers. By identifying research gaps and offering specific recommendations, it contributes to advancing and enriching existing knowledge in this emerging field.

Keywords

Decentralized financial system
Blockchain
Smart contracts
Scientometrics

Subjects

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Financial and Banking Strategic Studies
Volume 2, Issue 4
Winter 2025
Pages 331-346

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