{"id":681,"date":"2018-04-25T14:23:32","date_gmt":"2018-04-25T14:23:32","guid":{"rendered":"https:\/\/blockchain-society.science\/?p=681"},"modified":"2018-04-25T14:23:32","modified_gmt":"2018-04-25T14:23:32","slug":"blockchain-the-birth-of-decentralized-governance-by-benito-arrunada-luis-garicano","status":"publish","type":"post","link":"https:\/\/blockchain-society.science\/?p=681","title":{"rendered":"Blockchain: The Birth of Decentralized Governance by Benito Arru\u00f1ada, Luis Garicano\u00a0"},"content":{"rendered":"<blockquote>\n<div class=\"abstract-text\">\n<h3>Abstract<\/h3>\n<p>By 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 \u201cpremining\u201d 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 \u201csoft\u201d decentralized governance (anarchic, aristocratic, democratic, and autocratic) that allow networks to avoid bad equilibria.<\/p>\n<\/div>\n<p><center><\/center><strong>Keywords:<\/strong>\u00a0blockchain, platforms, networks, hold-up, coordination, relational capital, incomplete contracts, decentralized governance<\/p><\/blockquote>\n<p>Source: <em><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3160070\">Blockchain: The Birth of Decentralized Governance by Benito Arru\u00f1ada, Luis Garicano :: SSRN<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abstract By 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 \u201cpremining\u201d cryptocoins, taxing members and incentivizing developers, are insufficient. For blockchain to fulfill its promise and outcompete centralized firms, it needs to develop [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[39,43,26,6,5],"tags":[],"_links":{"self":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts\/681"}],"collection":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=681"}],"version-history":[{"count":1,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts\/681\/revisions"}],"predecessor-version":[{"id":682,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts\/681\/revisions\/682"}],"wp:attachment":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}