Read all about it …

As many Cats know my RMIT colleagues and I set up a Blockchain Innovation Hub a couple of years ago and have been working in that space.

One of the things that we have tried to do is develop a coherent theory of the economics of blockchain rather than look at the topic in an ad hoc manner.   Now many people, I’m sure, would simply dismiss that exercise as academics being academic but we reckon that we have a deeper insight into how the blockchain and related technologies are going to play out over the next few years.

So building on some ideas we first proposed at Berkeley in 2017

we now have a book length treatment of what we are calling institutional cryptoeconomics.

Offering the first scholarly analysis of the economic nature of blockchains and the formation of the blockchain economy, this timely book explores the future of global capitalism. Applying the institutional economics of Ronald Coase and Oliver Williamson, the authors highlight how blockchains are poised to reshape the nature of firms, governments, markets and civil society.

Chapters apply basic economic principles to explore blockchains and distributed ledger technologies through the framework of institutional economics. The book suggests ways in which cryptocurrencies such as Bitcoin may develop further in the future, bringing us back to a barter economy which removes the need for a third person in economic transactions. Outlining a ledger-centric view of the economy, the authors explore how blockchains and dehierarchalisation will reduce the demand for government regulation.

Institutional economists and scholars will greatly appreciate the thorough analysis of the development of institutional cryptoeconomics and insight into the future of blockchains that this book offers. Computer and technology scientists will also find this book to be a valuable read, as well as those working specifically in the blockchain industry.

Unfortunately Edward Elgar prices for the university library market so the book is pricey (no I’m not going to retire on the expected royalties).

The original journal article setting out those ideas is here.  That particular paper was originally written in 2016 – but given journal publication lags only appeared in print last year.  Working paper versions can be downloaded here and here.

This entry was posted in Books and writing, Cryptoeconomics, Gratuitous Advertising. Bookmark the permalink.

9 Responses to Read all about it …

  1. Nob

    So, you’re telling us it’s not out on Kindle?

    Seems the digital economy has some way to go.

  2. The more I learn about this subject, the more complex it seems to me, so I appreciate the work Sinc et al put into this area.
    On a side note, I’m not so sure governments are ready to embrace anything other than fiat currencies.
    Here is one reason for example. It is said that countries like Russia. NoKo and Iran are heavily into crypto’s to evade sanctions. If that’s true, I would very much doubt the US, Europe et al will allow crypto’s to survive.

  3. Arky

    I’m not so sure governments are ready to embrace anything other than fiat currencies.

    ..
    Yes, governments aren’t usually in the business of consciously engineering their own demise.
    It might give anarchists and the extreme libertarian unicorn fuckers a hard on, but I still like having a representative government I could in theory vote out.

  4. Jialin Li

    Thanks for your sharing!

  5. Frank Walker from National Tiles

    Yes, governments aren’t usually in the business of consciously engineering their own demise.
    It might give anarchists and the extreme libertarian unicorn fuckers a hard on, but I still like having a representative government I could in theory vote out.

    Great!

    …and if you can’t vote the mongs out, they spy on you and fine you for having one too many dogs and putting glass in landfill.

    Also, remember we can no longer cut down trees for fire protection…even if you do so and are the only house left standing…you cop crippling fines…then…

    …they and their block wardens will blame you for burning coal for slowly simmering the planet, as they jet off to a conference.

    Yay! Some other jerk offs voted for these pricks!

  6. Nob

    Sinclair Davidson
    #3148251, posted on September 5, 2019 at 5:09 pm
    eBook – here.

    Thanks!

  7. Bad Samaritan

    Can’t you spend your time more productively than on fairytale, pie-in-the-sky stuff like blockchain, and especially, cryptocurrencies?

    We already know that govt is doing away with real cash so as to control us all that much more easily, so why will they not simply flip a switch to halt crypto in it’s tracks when the time comes?

    Try the following. Type in the URL tab.co.nz to see what the Oz govt has done in the past month or so. That it can simply scrub my access to my account like this indicates that when the time comes to put cryto-nutters off-line it will be very easy.

    BTW: This blog now alternates between articles promoting Crytos…and other articles telling us that Economists do not have a clue. Why not try joining the dots to get the whole picture, FFS!

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