A New Paradigm of Economic Organization

Ioannis Giannakouros ()
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Ioannis Giannakouros: Financial and regulatory risk consultant

Chapter 2 in Cryptocurrencies and Tradable Crypto-Tokens, 2025, pp 17-43 from Springer

Abstract: Abstract As is the case with every important technological development, the blockchain has allowed existing processes to become more efficient. More importantly, it has also created the potential for totally new business processes making use of its seminal features of consensus-based fault tolerance, on-chain validation, transaction finality, and non-repudiation. Hence new products and services can be designed, offered, and sold using a blockchain as transactional ledger. Thus, blockchain-based ecosystems in general, and token ecosystems in particular, represent in effect a new paradigm for organizing economic life in a digital economy. The most varied economic agents and the broadest scope and scale of economic activities can all be brought under this paradigm as long as the associated data can be registered and validated on a blockchain. We explain these concepts in this chapter, departing from a reinterpretation of the notion of “factors of production” in the context of a modern digital society.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:fuobcp:978-3-031-98423-5_2

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DOI: 10.1007/978-3-031-98423-5_2

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