The emergence and proliferation of stable cryptocurrencies necessitate the establishment of first order design principles for stable cryptocurrencies. After highlighting the benefits of stable cryptocurrencies for monetary policy making, overall market stability, and their impact on the...

The authors examine the emergence and proliferation of stable cryptocurrencies and their uses. After evaluating the core shortcomings associated with fiat currencies, the authors highlight the benefits of stable cryptocurrencies for monetary policymaking, overall market stability, and their...

The rapid evolution of anonymous, autonomous, and distributed blockchain-based smart contracting creates friction and enforceability issues with existing legal and jurisdictional principles, calling the future governance of blockchain technology into question. The effective governance of...

Internet-based platform businesses outcompete traditional brick and mortar business on nearly all measures of comparison. Similarly, distributed ledger technology (DLT) businesses depend on the internet and show a lot of promise in multiple business verticals. Yet, internet-based platform...

Chapter 9 emphasizes the role of history in the creation of decentralized organizations. Access to historical records creates transparency and accountability and enables punishment and rewards in decentralized organizations which changes the motivations of members from a focus on immediate...

Chapter 10 highlights the need for the establishment and maintenance of unifying transcendental values of decentralized organizations. Unlike scientific laws, transcendental values cannot be stated formally and explicitly. The power of a decentralized organization derives from its ability to...

Chapter 2 highlights the transition from Web 2.0 companies, such as Google, Facebook, and Uber, among many others, which have disrupted much of the economy, to more decentralized solutions. Consumers around the globe are becoming increasingly accustomed to the advantages of decentralized...

This Preface summarizes the authors’ respective perspectives and precepts on the topic of decentralization that motivated the publication of their jointly au-thored book "DECENTRALIZATION - TECHNOLOGY'S IMPACT ON ORGANIZATIONAL AND SOCIETAL STRUCTURE", DEGRUYTER PUBLISHERS (2021). United by a...

Chapter 8 discusses the role of finance in the evolution of decentralized systems. In the 2020s, the market for DeFi has started to take off but fully decentralized DeFi solutions still have a long way to go. Because the decentralized economy is still missing the major institutions that society...

Chapter 6 underscores the importance of reputation systems for the decentralized economy. Reputation is the proper incentive, instead of money, for motivating the most efficient cooperation and long-term stability in business. Existing Web3 smart contract solutions often incentivize people to...