A Discussion on Decentralization in Financial Industry and Monetary System

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 aims to delve into this topic and examine 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.