Blockchain and investment: An Austrian approach

Darcy W E Allen (), Chris Berg, Sinclair Davidson and Jason Potts
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Darcy W E Allen: RMIT University
Chris Berg: RMIT University
Sinclair Davidson: RMIT University
Jason Potts: RMIT University

The Review of Austrian Economics, 2021, vol. 34, issue 1, No 9, 149-162

Abstract: Abstract Investment is a function of expected profit, which involves calculation of the cost of trust. Blockchain technology is a new institutional technology (Davidson et al. 2018) that industrialises trust (Berg et al. 2020). We therefore expect that the adoption of blockchain technology into the economy will affect investment and capital structure. Using a broad Austrian economic approach, we examine how blockchain technology will affect the cost of trust, patterns of investment, and economic institutions.

Keywords: Blockchain technology; Austrian capital theory; Institutional cryptoeconomics; Cost of trust (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (7)

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DOI: 10.1007/s11138-020-00504-x

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