The unlimited access to over-the-counter (“OTC”) credit derivatives may have been one of the main reasons for the financial crisis. Prior to the crisis, credit derivatives were mainly used for speculation purposes rather than as true risk-management tools. This speculation in turn resulted...

This Chapter examines the future of decentralization. While humans who were raised in a centralized world by default turn to centralized solutions for societal problems, decentralized approaches are more effective for global problems. Decentralized networks encourage interoperability through...