CryDeG: Towards Standardized Cryptocurrency Decrees

Abstract

Since the proposal of Bitcoin, the world witnessed a mass confusion in official reports and decrees that were subjectively not useful nor justifiable for users. This observation basically stems from several factors, including limited technical knowledge, and/or fear of change that is related to the psychology of the decision maker. Also, there had been an obvious disagreement on the definition of common economical concepts between conventional (centralized) and unconventional (decentralized) systems. This, in turn, resulted in great difficulty in making comprehensive decisions and complete official decrees regarding different cryptocurrency systems. Furthermore, many of these official decrees neglected basic ruling principles, such as individual innocuous freedom, and proper differentiation between applications that look similar but behave differently. This paper aims to address such issues by providing the necessary technical details for non-practitioners on cryptocurrencies. We propose guidelines for characterizing the required level of comprehensiveness in this regards, that will help decision makers prepare well defined official decrees. The use of a common legalization methodology will enable reliable analysis and comparison of governmental/organizational strategies and protocols, which is necessary for the improvement of economies. Our main contribution is a framework for generating optimally unbiased decrees about a given (type of) cryptocurrency. We achieve our goal by outlining similarities and differences between conventional and unconventional economic systems, and analyzing cases of incomplete decrees.