Complexity seems to bebroad enough to accommodate very different positions and it has been seen as a unifying approach for evolutionary and neo-Schumpeterian streams. Recently, several authors of evolutionary and neo-Schumpeterian economics have identified in complex systems a common framework for accounting for a range of attributes theyhave been claiming are present in economic systems: path-dependence, positive feedbacks,micro-heterogeneity, emergent properties, and self-organization. The main findings of this study are as follows: i) properly designed and regulated DeFi and cryptocutrrencies can facilitate economic development, Sustainability and Inequality-reduction ii) DeFi and cryptocurrencies are poorly understood and ineffectively regulated around the world, and thus pose Financial Stability risks and Systemic Risks iii) three new Theories-Of-regulation were introduced herein iv) the energy consumption concerns about cryptocurremcies and rumors of the worthlessness of "mined coins" maybe unjustified v) this article analyzes and critiques the actual and "possible" Regulatory-Regimes for Blockchain Economy Products (cryptocurrencies 2, Fractional-NFTs, NFTs (non-fungible tokens), DeFi-Products/Yield-Farming, Tokenized Stocks/Bonds, DCCs/DFPCs and DAOs) with the objective of clarifying critical regulatory factors that can significantly affect Sustainable Growth, ESG, Cost-of-Capital, Access-to-Capital for SMEs, Interest Rates and Inequality. In this context, DeFi-products ("DeFi Products") specifically refers to: i) DeFi loans that are secured by pools of cryptocurrencies and or NFTs and ii) DeFi Staking (or Yield-Farming) wherein persons temporarily lend or "stake" their cryptocurrencies or NFTs to a "Pool" in exchange for periodic interest payments. In some countries such as the USA, different federal government agencies have publicly issued conflicting opinions and regulations, and different legislators have issued conflicting statements. Around the world, the regulation of Blockchain Economy Products has presented a critical regulatory/policy and Sustainable Growth dilemma. This article builds on Nwogugu (2020) which introduced some new criteria for determining the optimal Regulatory-Regimes for Mutual Funds, ETFs and Auction Rate Securities.
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