Exploring Credit Relationship Dynamics in an Interbank Market Benefiting from Blockchain-based Distributed Trust: Insights from an Agent-based Model
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30 septembre 2023
- handle: 10670/1.x8lt2s
- hal: hal-04266077
- doi: 10.1007/978-3-031-34920-1_33
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info:eu-repo/semantics/altIdentifier/doi/10.1007/978-3-031-34920-1_33
info:eu-repo/semantics/OpenAccess
Mots-clés
Agent-based simulation Asymmetric information Confidence Distributed ledger Interbank call loan market UncertaintySujets proches
Trust (Psychology)Citer ce document
Morteza Alaeddini et al., « Exploring Credit Relationship Dynamics in an Interbank Market Benefiting from Blockchain-based Distributed Trust: Insights from an Agent-based Model », HAL-SHS : économie et finance, ID : 10.1007/978-3-031-34920-1_33
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Résumé
Trust is crucial in economic complex adaptive systems, where agents frequently change the other side of their interactions, which often leads to changes in the system's structure. In such a system, agents who seek as much as possible to build lasting trust relationships for long-term confident interactions with their counterparts decide whom to interact with based on their level of trust in existing partners. A trust crisis refers to the time when the level of trust between agents drops so much that there is no incentive to interact, a situation that ultimately leads to the collapse of the system. This paper presents an agent-based model of the interbank market and evaluates the effects of using a voting-based consensus mechanism embedded in a blockchain-based loan system on maintaining trust between agents and system stability. In this paper, we rely on the fact that blockchain as a distributed system only manages the existing trust and does not create it on its own. Furthermore, this study uses actual blockchain technology in its simulation rather than simply presenting an abstraction.