Definition ∞ A financial system onchain describes a monetary and transactional structure where assets, agreements, and exchanges are recorded and executed directly on a blockchain network. This arrangement leverages the distributed ledger for transparency, immutability, and programmability of financial operations. It represents a shift from centralized financial intermediaries.
Context ∞ The concept of a financial system onchain is central to the vision of decentralized finance, offering alternatives to traditional banking and investment services. Key discussions involve overcoming scalability limitations and establishing robust regulatory frameworks for these novel financial constructs. Future developments will focus on achieving greater interoperability between different blockchain networks and traditional financial systems.
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