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On 2nd September 2025, the Gillmore Centre hosted it's fourth annual conference on DeFi and Digital Currencies at the Shard in London. The conference brought together leading scholars conducting innovative research in the field of DeFi, stimulating debate on key emerging themes in financial technology. The day began with opening remarks from Professors David Skeie and Ram Gopal, who emphasised the importance of high-quality research on the rapidly changing world of finance. The first session focused on digital currencies and payments, the papers presented on the issue of bubbles in cryptocurrency prices, and cross-boarder Bitcoin, ether and stablecoin flows. The next session moved to focus on blockchain economics, with papers on achieving consensus on blockchains, and the incentive compatability of optimistic blockchaim mechanisms.

The conference keynote address was given by Christine Parlour of the University of California, Berkeley, and focused on the concept of liquid staking - the staking of crypto assets through tokenised deposits. Two papers were then delivered on DeFi lending, with papers on credit cycles in tockenised real estate markets, and on shock propagation in decentralized lending networks. The final presentation of the day followed, focusing on monetary policy transmission to stablecoin rates.

Taken together, the event highlighted the dual nature of DeFi; as a powerful driver of financial innovation and a potential source of systemic fragility. The event reinforced the importance of rigorous academic research to inform policymakers, guide regulation, and support the sustainable development of decentralized markets.

You can find a link for the recording of the conference, as well as copies of the papers presented on our events page.