DECENTRALIZED INSURANCE IN DEFI: AN APPLICATION ON INSURING FINANCIAL PRODUCTS


Ertaş F. C., Karabay B.

Ege Akademik Bakış, cilt.26, sa.1, ss.145-160, 2026 (ESCI, TRDizin) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 26 Sayı: 1
  • Basım Tarihi: 2026
  • Doi Numarası: 10.21121/eab.20260110
  • Dergi Adı: Ege Akademik Bakış
  • Derginin Tarandığı İndeksler: Emerging Sources Citation Index (ESCI), TR DİZİN (ULAKBİM)
  • Sayfa Sayıları: ss.145-160
  • Anahtar Kelimeler: Decentralized Finance, Insurance, Cryptocurrency, Blockchain Technology, Smart Contract
  • Atatürk Üniversitesi Adresli: Evet

Özet

The decentralized finance (DeFi) ecosystem is an ecosystem where financial services are provided using decentralized technologies such as blockchain and smart contracts instead of traditional financial intermediaries. While the absence of any intermediary institution, organization, or authority in this ecosystem provides many advantages, it also has significant disadvantages. The most important of these disadvantages is security issues. Since the decentralized finance ecosystem is a digital ecosystem, it faces problems such as hacking attacks and smart contract errors. As a result of these problems, trust in the ecosystem can be undermined. Our study focuses on the topic of insurance activities, which is one of the steps taken to make the ecosystem safer, based on the foundation of trust. Pioneering insurance platforms operating in the decentralized finance ecosystem were examined, and a financial asset insurance transaction was carried out through the selected insurance platform. Some proposals were made regarding the problems, deficiencies, and developments needed in the ecosystem, particularly in terms of insurance, based on the issues encountered during the examination and implementation phases.