kaal:claim:3406323-029

Decentralized banking substitutes blockchain transparency, a permanently uneditable record, and equal access for the governmental fiat that traditionally created public confidence, building slowly toward the higher confidence equilibrium that raises economic efficiency.

Decentralized banking uses blockchain technology's property of complete transparency, a permanently uneditable record, and equal access to all, in order to provide a continually auditable system to slowly and stably build toward this higher equilibrium of public confidence.

Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019), VI. Evolution, p. 15
https://ssrn.com/abstract=3406323 · source PDF

Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019). SSRN: https://ssrn.com/abstract=3406323

• banking systems whose efficiency depends on public confidence equilibria

mechanismsupport: argueddecentralizationsystemic-riskdisclosure

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