Blockchain: The birth of decentralized governance
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- dc.contributor.author Arruñada, Benito
- dc.contributor.author Garicano, Luis
- dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
- dc.date.accessioned 2020-05-25T09:27:05Z
- dc.date.available 2020-05-25T09:27:05Z
- dc.date.issued 2018-04-10
- dc.date.modified 2020-05-25T09:25:36Z
- dc.description.abstract By allowing networks to split, decentralized blockchain platforms protect members against hold up, but hinder coordination, given that adaptation decisions are ultimately decentralized. The current solutions to improve coordination, based on premining cryptocoins, taxing members and incentivizing developers, are insufficient. For blockchain to fulfill its promise and outcompete centralized firms, it needs to develop new forms of soft decentralized governance (anarchic, aristocratic, democratic, and autocratic) that allow networks to avoid bad equilibria.
- dc.format.mimetype application/pdf*
- dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=1608
- dc.identifier.citation
- dc.identifier.uri http://hdl.handle.net/10230/44773
- dc.language.iso eng
- dc.relation.ispartofseries Economics and Business Working Papers Series; 1608
- dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
- dc.subject.keyword Blockchain
- dc.subject.keyword platforms
- dc.subject.keyword networks
- dc.subject.keyword hold‐up
- dc.subject.keyword coordination
- dc.subject.keyword relational capital
- dc.subject.keyword incomplete contracts
- dc.subject.keyword decentralized governance
- dc.subject.keyword Business Economics and Industrial Organization
- dc.title Blockchain: The birth of decentralized governance
- dc.title.alternative
- dc.type info:eu-repo/semantics/workingPaper