Ideas in this flowchart

• The Yapese fei-stone economy illustrates the basic idea of decentralized consensus.
• A centralized record-keeper controls the community's transaction records.
• The record-keeper could charge arbitrary fees.
• The record-keeper could favor certain people.
• Political pressure could lead the record-keeper to falsify records.
• An alternative arrangement distributes record-keeping across the community.
• Every family maintains its own ledger.
• Each payment is publicly announced.
• Everyone can record the corresponding debit and credit.
• A majority recognizes a transaction as legitimate.
• The rest of the community accepts the majority ruling.
• Shared records and majority recognition produce decentralized consensus.