Trades in today's financial system are inherently subject to settlement uncertainty. This paper explores tokenization … eradicate settlement uncertainty. We study the allocations achieved in a decentralized market with either the legacy settlement … from resolving settlement uncertainty, particularly for markets that depend on intermediaries. We show that optimal design …

Trades in today's financial system are inherently subject to settlement uncertainty. This paper explores tokenization … eradicate settlement uncertainty. We study the allocations achieved in a decentralized market with either the legacy settlement … from resolving settlement uncertainty, particularly for markets that depend on intermediaries. We show that optimal design …