kaal:claim:3249860-007

The democratization of monetary policy in token economies creates a serious problem, because token designers lack the qualifications and institutional functions that centralized central banking distributes across multiple institutions and their staff.

This creates a serious problem for many token economies as the designers lack the qualifications and functions that are

Wulf A. Kaal, Crypto Economics - The Top 100 Token Models Compared (2018), II.3 Macro vs. Micro, p. 7
https://ssrn.com/abstract=3249860 · source PDF

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

• token economies in which the designer sets supply, timing, and allocation

failuresupport: arguedfailure: unqualified-monetary-policy-designerfamily: staking-and-incentive-misalignmenttokenomicssystemic-risk

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• Qualification: Communicating tokenomics and monetary policy: A comparative analysis of real and virtual economies