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Blockchain and Democracy

Author

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  • Peter Racsko

    (Department of Information Systems, Corvinus University Budapest, Hungary)

Abstract

In the past few years in many countries people have experienced the erosion of trust in the main pillars of democracy, the voting and election systems. Many authors envisage the blockchain technology as a tool for restoration of trust (Tapscott 2016; Swislow 2016; Shin 2016). Our research is aimed at the potential use of blockchain technology in social systems for enhancing trust and increasing participation. We aim to explore whether the blockchain technology is suitable for voting or elections in large communities and the issues to be addressed for real world applications to leverage democratic rights. Our final conclusion is that there are both theoretical and practical obstacles in the way of such direct applications.

Suggested Citation

  • Peter Racsko, 2019. "Blockchain and Democracy," Society and Economy, Akadémiai Kiadó, Hungary, vol. 41(3), pages 353-369, September.
    • Handle: RePEc:aka:soceco:v:41:y:2019:i:3:p:353-369
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    More about this item

    Keywords

    blockchain; consensus protocol; voting;
    All these keywords.

    JEL classification:

    • C88 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Other Computer Software
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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