# kaal:claim:3249860-006

**Claim.** In decentralized systems the functions previously performed by policy designers, central bankers, and economists in centralized markets are taken over by the token designer for the respective token economy.

**Type.** mechanism  **Support.** asserted

**Source quote.**

> Whereas policy designers, central bankers, and economists previously coordinated market design and economic regulations in centralized systems, these functions are taken over by the token designer for the respective token economy.

**From.** Wulf A. Kaal, *Crypto Economics - The Top 100 Token Models Compared* (2018), II.3 Macro vs. Micro, page 7

**Cite as.** Wulf A. Kaal, Crypto Economics - The Top 100 Token Models Compared (2018). SSRN: https://ssrn.com/abstract=3249860

**Verify.** sha256 of source PDF `72b13f11002ba26206cd53e74c324b913d1830c642bfa024da6bac0d3af3a7b0` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202018%20-%20Crypto%20Economics%20-%20The%20Top%20100%20Token%20Models%20Compared.pdf

**Topics.** tokenomics, systemic-risk, economics

**Keywords.** monetary-policy, token-design, central-banking, macroeconomics

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