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Designing Token Economies with Less Inflation and Inequality in the Absence of State and Central Bank: Experimental Liberal Anarchist Token Smart Contract

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  • Adem Bilgin

    (Nature Conservation and National Parks GD, Ministry of Agriculture and Forestry)

Abstract

Token-based digital economies operating without a central bank present both an opportunity and a challenge in the post-fiat era. In the absence of monetary authorities, decentralized economies must rely on endogenous mechanisms to control inflation, encourage circulation, and mitigate inequality. This paper presents a multidisciplinary investigation—grounded in mathematics, computer science, and economics—of such economies. We analyze token issuance dynamics, wealth distribution, and market behavior using mathematical formalism and propose smart contract-based policy mechanisms as substitutes for central bank functions. We also develop open-source Solidity codes of an experimental test token ELAT (Experimental Liberal Anarchist Token) under MIT License. This contract is part of a broader research experiment into stateless token economies, combining insights from mathematics, computer science, and economic theory, inspired by works of crypto-anarchist frameworks. Finally, we set the philosophical challenges and its economical rules for The Experimental Libertarian Anarchist Economical System (TELAES) in alignment with sustainable development goals, to be further discussed and developed by the scientific and policy community.

Suggested Citation

  • Adem Bilgin, 2025. "Designing Token Economies with Less Inflation and Inequality in the Absence of State and Central Bank: Experimental Liberal Anarchist Token Smart Contract," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(5), pages 5896-5908, May.
    • Handle: RePEc:bcp:journl:v:9:y:2025:issue-5:p:5896-5908
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    1. Davidson, Sinclair & De Filippi, Primavera & Potts, Jason, 2018. "Blockchains and the economic institutions of capitalism," Journal of Institutional Economics, Cambridge University Press, vol. 14(4), pages 639-658, August.
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