Antitrust in the Decentralized Economy: Defi, Central Bank Digital Currencies, and Blockchain

As the blockchain and decentralized finance industry crosses the ＄3 trillion-mark, market distortions and anticompetitive practices are starting to emerge. In this decentralized economy, antitrust and competition law are called to play a major role in preserving healthy competition and consumer welfare.

Against this backdrop, Antitrust in the Decentralized Economy explores all aspects of the application of EU competition and US antitrust law in decentralized finance, virtual assets, central bank digital currencies, and blockchain products and services. Using the latest caselaw and literature in law, economics, and computer science, this book discusses economic and commercial activity in decentralized markets, shows how to perform market definition and measure market power, and analyzes abuse of dominance, monopolization, and collusion in these markets.

In line with recent industry developments, Antitrust in the Decentralized Economy systematizes extant scholarship while breaking new ground, introducing new concepts of the decentralized economy and integrating them in the analytical framework of competition and antitrust law, making it readily usable by academics, practitioners, and competition authorities.

Konstantinos Stylianou, Professor of Competition Law and Regulation, University of Glasgow

Konstantinos Stylianou is a Professor of Competition Law and Regulation at the University of Glasgow. His research focuses on digital markets, the choice between competition and regulation, and how markets are organized around new technologies. He has worked with, advised, trained or done research for various governments and BigTech companies, and has attracted funding from the EU, the UK Research Councils, national competition authorities, and numerous research institutions including the Fulbright and Onassis foundations. He is the co-creator of the db-comp.eu database. He holds an S.J.D. from the University of Pennsylvania, an LL.M. from Harvard University, and an LL.B. and LL.M. from Aristotle University.