Blockchain and Investment: An Austrian Approach

Forthcoming in the Review of Austrian Economics (with Chris Berg, Sinclair Davidson and Jason Potts). Pre-print available on request. Abstract: Investment is a function of expected profit, which involves calculation of the cost of trust. Blockchain technology is a new institutional technology (Davidson et al 2018) that industrialises trust (Berg et al 2018). We therefore … Continue reading Blockchain and Investment: An Austrian Approach

Blockchain and the Evolution of Institutional Technologies: Implications for Innovation Policy

Forthcoming in Research Policy Abstract: For the past century economists have proposed a suite of theories relating to industrial dynamics, technological change and innovation. There has been an implication in these models that the institutional environment is stable. However, a new class of institutional technologies — most notably blockchain technology — lower the cost of institutional … Continue reading Blockchain and the Evolution of Institutional Technologies: Implications for Innovation Policy

Governing the Entrepreneurial Discovery of Blockchain Applications

Forthcoming in the Journal of Entrepreneurship and Public Policy Abstract: This paper examines the institutional context of the entrepreneurial discovery of blockchain applications. It draws on institutional and entrepreneurial theory to introduce the economic problem entrepreneurship in the early stages of new technologies, examines the diversity of self-governed hybrid solutions to coordinating entrepreneurial information, and … Continue reading Governing the Entrepreneurial Discovery of Blockchain Applications

The Governance of Blockchain Dispute Resolution

Forthcoming in the Harvard Negotiation Law Review Abstract: Blockchain technology acts as infrastructure for self-executing smart contracts. Because contracts are incomplete and some parties are opportunistic, these new contracting possibilities have created challenges of dispute resolution. For instance, will smart contracts be recognised, and any disputes resolved, within the existing courts of jurisdictions? In this … Continue reading The Governance of Blockchain Dispute Resolution

Backing blockchain with strong policy

[This article was published at Policy Forum] Blockchain technology offers several benefits for the world’s industries and supply chains, but as investment grows, there must be a simultaneous increase in robust international policy coordination, Darcy Allen writes. Blockchain technology will bring the next wave of globalisation by radically upgrading the world’s trade infrastructure. We are now … Continue reading Backing blockchain with strong policy

Cryptodemocracy: how blockchain can radically expand democratic choice

Book published with Lexington. Abstract: A cryptodemocracy is cryptographically-secured collective choice infrastructure on which individuals coordinate their voting property rights. Drawing on economic and political theory, a cryptodemocracy is a more fluid and emergent form of collective choice. This book examines these theoretical characteristics before exploring specific applications of a cryptodemocracy in labor bargaining and … Continue reading Cryptodemocracy: how blockchain can radically expand democratic choice

For Tassie exporters, paper trail risks vital trust

[This article was published in the Hobart Mercury] Tasmania’s producers are perfectly placed to receive higher export prices by taking advantage of blockchain technology. Applying blockchain to Tasmanian supply chains will deliver more trustworthy information to consumers, boosting prices of high-quality super-premium exports. The State Government recently announced Brand Tasmania as a statutory body, tasked … Continue reading For Tassie exporters, paper trail risks vital trust

Blockchain and the manufacturing industry

[Together with Chris Berg and Jason Potts this article was published in the Australian Technology Manufacturing Magazine] Bitcoin was invented in 2008 by Satoshi Nakamoto as a censorship-resistant cryptocurrency built for the internet. With regular fiat money centralised bodies such as banks and governments control the records of who owns what. For bitcoin those records … Continue reading Blockchain and the manufacturing industry

International policy coordination for blockchain supply chains

Published in Asia & the Pacific Policy Studies Abstract: From the adoption of the shipping container to coordinated trade liberalization, reductions in trade costs have propelled modern globalization. In this paper, we analyse the application of blockchain to reduce the trade costs of producing and coordinating trusted information along supply chains. Consumers, producers, and governments … Continue reading International policy coordination for blockchain supply chains

Why blockchain technology could be the key to solving the developing world’s biggest problems

[Together with Chris Berg this article was published at FEE.org] The core of the free market explanation for global poverty is simple and compelling: much of the world’s poor are poor because of institutional failure. The court systems that service the bottom billion are unreliable or hard to access. The governments impose extractive taxation. The … Continue reading Why blockchain technology could be the key to solving the developing world’s biggest problems