Definition ∞ Decentralized Capital Markets refer to financial systems built on blockchain technology that enable the exchange of capital without intermediaries. These markets facilitate activities such as lending, borrowing, and trading digital assets through automated smart contracts. Their primary function is to provide open, permissionless access to financial services, reducing reliance on traditional financial institutions.
Context ∞ The state of decentralized capital markets is characterized by rapid innovation and increasing integration with global finance. A key debate involves balancing regulatory compliance with the core principles of decentralization and user autonomy. Critical future developments include the creation of more robust risk management tools, enhanced cross-chain capabilities, and the potential for institutional participation to expand these markets significantly.
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