Abstract

We have viewed that issuance of bonds is increasing in the periods of social crises such as climate change problems, financial crises and Covid 19 pandemic. However, the digital industrial revolution brings reconstruction of stakeholders. The structural changes of stakeholders brought by the new industrial revolution influence initiatives to achieve sustainable communities. The short-term remedies with issuing a large amount of government bonds require great cooperation with inside stakeholders including national banking system. To achieve sustainability in global communities we should make vital decentralized systems functionable. This paper argues in the long-term policies that outside and external stakeholders decline the amount of and raise the interest rates in issuing bonds to construct sustainable communities.

Keywords: Covid 19 pandemic; Decentralized systems; Digital industrial revolution; Global market and government failures; Inside; Outside; External stakeholders