Blockchain: the birth of decentralized governance

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dc.contributor.authorGaricano, Luis
dc.contributor.authorArruñada, Benito
dc.contributor.rorhttps://ror.org/02jjdwm75
dc.date.accessioned2025-04-25T09:26:20Z
dc.date.available2025-04-25T09:26:20Z
dc.date.issued2018-04-10
dc.description.abstractBy 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.description.peerreviewedyes
dc.description.statusPublished
dc.formatapplication/pdf
dc.identifier.citationArruñada, B., & Garicano, L. (2018). Blockchain: The birth of decentralized governance. Pompeu Fabra University, Economics and business working paper series, 1608.
dc.identifier.urihttps://hdl.handle.net/20.500.14417/3767
dc.language.isoen
dc.publisherPompeu Fabra University, Economics and business working paper series
dc.relation.entityIE University
dc.relation.schoolIE Business School
dc.rightsinfo:eu-repo/semantics/openAccess
dc.rights.accessRightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/deed.en
dc.subject.keywordBlockchain
dc.subject.keywordPlatforms
dc.subject.keywordNetworks
dc.subject.keywordHold‐up
dc.subject.keywordCoordination
dc.subject.keywordRelational capital
dc.subject.keywordIncomplete contracts
dc.subject.keywordDecentralized governance
dc.titleBlockchain: the birth of decentralized governance
dc.typeinfo:eu-repo/semantics/workingPaper
dc.version.typeinfo:eu-repo/semantics/publishedVersion
dspace.entity.typePublication
relation.isAuthorOfPublication6374fc01-5c8d-4d7c-be75-9534ca09dcb5
relation.isAuthorOfPublication.latestForDiscovery6374fc01-5c8d-4d7c-be75-9534ca09dcb5

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