Speaker
Description
Decentralised Finance (DeFi) is a rapidly growing area of the digital economy that offers financial services without relying on traditional intermediaries. Built on blockchain technology, DeFi provides transparency and security through cryptographic protocols and distributed systems. However, it faces a core security paradox. While blockchain infrastructure is designed to provide robust technical security, users often encounter significant challenges when interacting with decentralised systems. These challenges usually stem from complex interfaces, unclear risk communication, and limited user support. As a result, users may become confused, make poor decisions, and incur financial losses.
This paper adopts Socio-Technical Systems (STS) Theory to explore how trust in DeFi platforms is shaped by both technological design and user behaviour. It focuses on the interaction between users and security interfaces such as digital wallets, transaction confirmations, and audit dashboards, critical points where users make decisions based on their understanding of risk and design clarity.
The presentation investigates how trust is constructed through these interactions and the broader ecosystem of information within DeFi communities. Adopting a Social Network Analysis (SNA) perspective, the study examines how trust-related information flows through user networks, how actors like validators, developers, and opinion leaders shape perceptions, and how network structures influence the spread of security narratives. Planned qualitative interviews with DeFi users of varying experience levels will support this analysis by offering insight into how users interpret and share trust-related information.
The presentation posits that trust in DeFi is not solely driven by technical design but also shaped by social engagement and networked interpretation. A proposed framework will guide future empirical research into how users understand and respond to DeFi security.
Keywords/Topics
Decentralised Finance (DeFi), Socio-Technical Systems Theory (STS), social network analysis (SNA), trust formation, security interfaces, user behavior, risk perception, blockchain technology, qualitative research, peer influence, digital trust, and interface design.
