Claims blockchain is more than just ICT innovation, but facilitates new types of economic organization and governance. Suggests two approaches to economics of blockchain: innovation-centred and governance-centred. Argues that the governance approach — based in new institutional economics and public choice economics — is most promising, because it models blockchain as a new technology for creating spontaneous organizations, i.e. new types of economies. Illustrates this with a case study of the Ethereum-based infrastructure protocol and platform Backfeed.
Economics of Blockchain
Submitted by Staff on May 03, 2016
|Date: March 8, 2016|
|Author(s): Sinclair Davidson, Primavera De Filippi, Jason Potts|
|Affiliation: RMIT University - Harvard University|