Definition ∞ Financial architecture describes the structural framework and interconnected systems that govern how financial transactions and value transfers occur within an economy. This encompasses payment networks, banking systems, regulatory bodies, and market infrastructures. In the digital asset space, it also includes blockchain protocols, decentralized exchanges, and smart contract platforms. This framework dictates the rules and mechanisms for economic activity.
Context ∞ The emergence of decentralized finance (DeFi) presents a novel financial architecture that challenges traditional centralized models. A significant discussion involves the potential for these new structures to offer greater efficiency, transparency, and inclusion, while also presenting regulatory complexities. Future developments will likely involve the integration of traditional and decentralized financial systems, leading to hybrid models.
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