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concepts/anarchocapitalism.md
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# Anarcho-capitalism
Anarcho-capitalism is a political ideology that synthesises beliefs from [capitalism](capitalism.md) and anarchy. It's adherents believe in the the elimination of centralized nation states in favour of of a system of pure private property enforced by private agencies, free markets and self-ownership without the need for laws or the state.
In the absence of the nation state, anarcho-capitalists suppose that society will inevitably contractually self-regulate and participation in the free market will sustain or replace the need for [public goods](../public-goods-problem.md).
In the absence of the nation state, anarcho-capitalists suppose that society will inevitably contractually self-regulate and participation in the free market will sustain or replace the need for [public goods](public-goods-problem.md).
See [cryptoanarchism](cryptoanarchism.md), [post-state technocracy](../../notes/post-state-technocracy.md) and [technolibertarianism](technolibertarianism.md).

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concepts/crypto-exchange.md
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Crypto exchanges are commonly set up in jurisdictions with loose or corrupt financial regulatory authorities. These include, but are not limited to:
* Antigua
* Barbuda
* Seychelles
* Malta
* Jersey

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concepts/defi.md
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# Decentralized Finance (DeFi)
Defi is a broad category of [smart contracts](smart-contracts.md) which loosely correspond to digital investment schemes running on a [blockchain](blockchain.md) which allow users to create over-collateralized loans out of [stablecoin](stablecoin.md) and which have side payouts in so-called "[governance tokens](governance-token.md)".
Defi is a broad category of [smart contracts](smart-contracts.md) which loosely correspond to digital investment schemes running on a [blockchain](blockchain.md) which allow users to create [overcollateralized](collateralization.md) loans out of [stablecoin](stablecoin.md) and which have side payouts in so-called "[governance tokens](governance-token.md)".
DeFi generally refers to a collection of services which offer lending products offered by non-banks and which exist outside the regulatory perimeter as a form [regulatory arbitrage](regulatory-arbitrage.md) and to fund margin trading activities to [speculaate](speculation.md) on [crypto assets](cryptoasset.md).

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concepts/money.md
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* **Unit of Account** - The capacity of an item, or subdivisions of itself, to function as a numerical monetary unit (*numéraire*) and act as a universal measure of the [market value](market-value.md) of goods, services, and other transactions.
* **Store of Value** - The capacity of an item to retain purchasing power into the future and capacity to be saved with a predictable variance in its [market value](market-value.md) over long time periods.
Money is a social technology whose efficacy is based on both its universal acceptance in an economic region and the money's coherence to three properties:
Money is a social technology whose efficacy is based on both its universal acceptance in an economic region and the money's coherence to three properties above.
The United States [dollar](dollar.md) and the Euro are examples of money.
See also [private money](private-money.md).
## Qualities
The qualifies of a currency representing money are defined by coherent to three properties:
The qualifies of a currency representing money are defined by coherent several other properties:
* Durability
* Portability
@ -22,6 +18,8 @@ The qualifies of a currency representing money are defined by coherent to three
* Limited supply
* Wide acceptability
See also [private money](private-money.md) and [currency](currency.md).
## References
1. Eich, Stefan. 2018. ‘The Currency of Politics’. The Political Theory of Money from Aristotle to Keynes.
1. Varoufakis, Yanis. 2021. ‘What Is Money, Really? And Why Bitcoin Is Not the Answer (Even If Blockchain Is Brilliant & Potentially Helpful in Democratising Money)’. Yanis Varoufakis (blog). 2 August 2021. https://www.yanisvaroufakis.eu/2021/08/02/what-is-money/.