Karbo is a decentralized peer-to-peer exchange network and stable exchange medium, designed to be used by customers and merchants as private Internet money that respects and protects their privacy. It does not have centralized management or issuer and ensures privacy and anonymity of transactions without intermediaries and regulators. Its units of exchange are units of information, cryptographically protected (encrypted) from copying and counterfeiting by the blockchain technology. Karbo is based on principles of the Austrian school of economics which emphasizes the spontaneous organizing power of the price mechanism and holds that the complexity of subjective human choices makes mathematical modeling of the evolving market practically impossible. Its scholars eschew what they consider "naïve" and pointless mathematical modeling of the economy, considering much of mainstream economics a form of economic charlatanism. Its proponents tend to emphasize the organic, subjective and evolving nature of market dynamics, advocating the strong protection of private property rights and the strict enforcement of voluntary contractual agreements between economic agents as the best way of facilitating economic exchange, and generally advocate a laissez-faire approach to the economy, arguing that the smallest imposition of coercive force (especially government-imposed force) on commercial transactions is the most effective way to secure long-run economic stability and well-being.