Monetary policy for stable cryptocurrencies should combine hardcoded transparent rules with protocols enabling decentralized autonomous organizations, with decentralized but fully transparent policy DAOs functioning as the policy makers for what cannot be hardcoded.
Source quote, verbatim
monetary policy for cryptocurrencies can additionally be supported by protocols enabling decentralized autonomous organizations (DAOs).152 Decentralized but fully transparent policy DAOs can help function as policy makers.
From
Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019), IV. Stable Cryptocurrencies, 7. Price Stability, p. 38 https://ssrn.com/abstract=3396522 · source PDF
Cite as
Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019). SSRN: https://ssrn.com/abstract=3396522
Holds when
depends on DAO governance designs that address expertise and incentive problems
extended_bykaal:claim:3402701-033 Parameter and policy choices for a stable cryptocurrency should be made by a decentralized autonomous organiza...
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