A Decentralized Economy Using Blockchain


Authors : Alwin K Scaria; Teena Tomy; Shinu Shaju; Prince Abraham

Volume/Issue : Volume 6 - 2021, Issue 7 - July

Google Scholar : http://bitly.ws/9nMw

Scribd : https://bit.ly/3x4nIyF

The introduction of blockchain technology has revolutionized the concept of decentralization, which is testing our preconceived notions about present social, political, and economic institutions. The rapid growth of this technology aids in unifying the world. The industrial age's centralized economic model is largely designed to generate profit for its proprietors. An economy can be built around a community that provides services by tokenizing assets. The token represents the value of the service provided in that economy. Instead of being determined, measured, and administered for them by a central power, a decentralized economy allows communities to define what they value. Thus, shifting the locus of power outside to the individuals who keep these economies running.

Keywords : Tokenization, Bloc Network, Explorer

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