Markets for rules: the promise and peril of blockchain distributed governance

Nick Cowen

Journal of Entrepreneurship and Public Policy, 2019, vol. 9, issue 2, 213-226

Abstract: Purpose - The purpose of this paper is to explore the possible contributions of blockchain technology to creating new governance structures that facilitate social cooperation. Design/methodology/approach - Conceptual analysis with key ideas in new institutional economics and political theory is used in this paper. Findings - Blockchain technology provides a new tool through which political entrepreneurs can credibly alienate some of their power within a system of rules that they have established. Originality/value - This paper links discussion of blockchain entrepreneurship in commercial markets to research into private governance.

Keywords: Liberalism; Political entrepreneurship; Blockchain; Cryptocurrency; New institutional economics; Private governance (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eme:jepppp:jepp-03-2019-0013

DOI: 10.1108/JEPP-03-2019-0013

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