TY - GEN
T1 - Coins, Covid, Keynes and K-Shaped Recovery
AU - Martinez, Pepi
AU - Huang, William
AU - Mishra, Bud
N1 - Funding Information:
Once recipients authorize their accounts, they allow the sharing of certain information with funds, similar to using OAuth solutions like Google log-in today. Recipients can specify funds to automatically enroll in based on their needs, and also request to join funds they are qualified for. A REQUEST FUNDS contract allows a business or individual to request funding from a specific program. Donors create and manage funds using a suite of smart contracts:
Publisher Copyright:
© 2021, International Financial Cryptography Association.
PY - 2021
Y1 - 2021
N2 - Reckless monetary policy, especially in the wake of a pandemic, amplifies the gap between the extreme ends of the income distribution, thus exacerbating the long term effects of income inequality and loss of human capital. Attempts of federal stimulus bills fall short in timing and size, including directing spending towards those most in need. We propose a general smart contract protocol that distributes funds to targeted individuals with programmatic spending enforceability, alleviating the K-Shape recovery that current monetary policy is creating and turn it into the desired V-Shape. Utilizing incentive structures, our model directs spending to help stimulate the economies of targeted communities and struggling businesses. Smart contracts remove the current inefficiencies in the political trust and permission-based solution and allow for more transparency, verification, and incentives to help one’s community in times of need. Such a system allows for a more positive and direct relationship between those with funds and those who need funds.
AB - Reckless monetary policy, especially in the wake of a pandemic, amplifies the gap between the extreme ends of the income distribution, thus exacerbating the long term effects of income inequality and loss of human capital. Attempts of federal stimulus bills fall short in timing and size, including directing spending towards those most in need. We propose a general smart contract protocol that distributes funds to targeted individuals with programmatic spending enforceability, alleviating the K-Shape recovery that current monetary policy is creating and turn it into the desired V-Shape. Utilizing incentive structures, our model directs spending to help stimulate the economies of targeted communities and struggling businesses. Smart contracts remove the current inefficiencies in the political trust and permission-based solution and allow for more transparency, verification, and incentives to help one’s community in times of need. Such a system allows for a more positive and direct relationship between those with funds and those who need funds.
KW - Donation fund
KW - Economic stimulus
KW - Incentive systems
KW - Smart contract
KW - Spend tracking
UR - http://www.scopus.com/inward/record.url?scp=85115849183&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85115849183&partnerID=8YFLogxK
U2 - 10.1007/978-3-662-63958-0_43
DO - 10.1007/978-3-662-63958-0_43
M3 - Conference contribution
AN - SCOPUS:85115849183
SN - 9783662639573
T3 - Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
SP - 611
EP - 627
BT - Financial Cryptography and Data Security. FC 2021 International Workshops - CoDecFin, DeFi, VOTING, and WTSC, Revised Selected Papers
A2 - Bernhard, Matthew
A2 - Bracciali, Andrea
A2 - Gudgeon, Lewis
A2 - Haines, Thomas
A2 - Klages-Mundt, Ariah
A2 - Matsuo, Shin'ichiro
A2 - Perez, Daniel
A2 - Sala, Massimiliano
A2 - Werner, Sam
PB - Springer Science and Business Media Deutschland GmbH
T2 - 2nd Workshop on Coordination of Decentralized Finance, CoDecFin 2021, 1st Workshop on Decentralized Finance, DeFi 2021, 6th Workshop on Advances in Secure Electronic Voting, VOTING 2021, and 5th Workshop on Trusted Smart Contracts, WTSC 2021, held in conjunction with the 25th International Conference on Financial Cryptography and Data Security, FC 2021
Y2 - 5 March 2021 through 5 March 2021
ER -