kaal:claim:3782216-001

The decentralized economy cannot fully proliferate until it acquires the institutions ordinary commerce depends on, above all a secure and meaningful reputation system for anonymous supranational partners and an effective, dynamic governance system.

the decentralized economy is missing the major institutions that our society relies on to conduct profitable business, especially a secure and meaningful system for evaluating reputation for anonymous supranational partners, and an effective and dynamic governance system

Craig Calcaterra, Wulf A. Kaal, Decentralized Finance (DeFi) (2021), Summary
https://ssrn.com/abstract=3782216 · source PDF

Craig Calcaterra, Wulf A. Kaal, Decentralized Finance (DeFi) (2021). SSRN: https://ssrn.com/abstract=3782216

• the decentralized economy as of the early 2020s

conditionsupport: arguedfailure: missing institutional preconditionsfamily: cold-start-and-bootstrappingdefidecentralizationeconomicsreputationgovernance-designinstitutional-design

• extends kaal:claim:3782205-022 Without a secure and meaningful reputation system, none of the other aspects of the decentralized economy will...
• restates kaal:claim:3782205-026 Reputation and governance are the two most important institutions missing from the decentralized economy, and ...

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