A Discussion on Decentralization in Financial Industry and Monetary System

Alfred Ruoxi Zhang, Farrokh Zandi and Henry Kim

Chapter 4 in Information for Efficient Decision Making:Big Data, Blockchain and Relevance, 2020, pp 115-135 from World Scientific Publishing Co. Pte. Ltd.

Abstract: As technology revolutionizes the methods of both production and communication, economists have to constantly adjust their theories explaining the economy according to new market structures and efficiencies, and the controversial concept of decentralization emerging in recent decades should also be examined in terms of its capacity to induce structural changes in the economy. This paper delves into this topic and examines some cases of hypothetical decentralized markets, including the financial industry and the monetary system, in order to provide a preliminary illustration of how an economy composed of such markets would function and their corresponding benefits and risks, through a preliminary discussion about existing literatures and theories aiming to inspire further researches within the field.

Keywords: Accounting; Decision Making; Economic Information; Stock Trading; Acquisitions; Mergers; Financing Reporting; Reliable Information; Company Decisions (search for similar items in EconPapers)
JEL-codes: A1 M41 (search for similar items in EconPapers)
Date: 2020
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