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Understanding the Blockchain Economy
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Understanding the Blockchain Economy

An Introduction to Institutional Cryptoeconomics

9781788974998 Edward Elgar Publishing
Publication Date: 2019 ISBN: 978 1 78897 499 8 Extent: 224 pp
Blockchains are the distributed ledger technology that powers Bitcoin and other cryptocurrencies. But blockchains can be used for more than the transfer of tokens – they are a significant new economic infrastructure. This book offers the first scholarly analysis of the economic nature of blockchains and the shape of the blockchain economy. By applying the institutional economics of Ronald Coase and Oliver Williamson, this book shows how blockchains are poised to reshape the nature of firms, governments, markets, and civil society.

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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.
Contents
Contents 1. Introduction 2. The institutional economics of blockchain 3. The Universal Turing Institution 4. The microfoundations of ledgers 5. Money, dequity, and the barter economy of the future 6. Supply chains and identity 7. The V-form organisation and the future of the firm 8. Public policy in a blockchain era 9. Capitalism after Satoshi 10. Conclusion References Index

This title is available for institutional purchase via Elgaronline.

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eISBN: 978 1 78897 500 1
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