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Markets for rules: the promise and peril of blockchain distributed governance

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  • Nick Cowen

Abstract

Purpose - The purpose of this paper is to explore the possible contributions of blockchain technology to creating new governance structures that facilitate social cooperation. Design/methodology/approach - Conceptual analysis with key ideas in new institutional economics and political theory is used in this paper. Findings - Blockchain technology provides a new tool through which political entrepreneurs can credibly alienate some of their power within a system of rules that they have established. Originality/value - This paper links discussion of blockchain entrepreneurship in commercial markets to research into private governance.

Suggested Citation

  • Nick Cowen, 2019. "Markets for rules: the promise and peril of blockchain distributed governance," Journal of Entrepreneurship and Public Policy, Emerald Group Publishing Limited, vol. 9(2), pages 213-226, September.
    • Handle: RePEc:eme:jepppp:jepp-03-2019-0013
    DOI: 10.1108/JEPP-03-2019-0013
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    1. Darcy W. E. Allen & Chris Berg & Aaron M. Lane & Trent MacDonald & Jason Potts, 2023. "The exchange theory of web3 governance," Kyklos, Wiley Blackwell, vol. 76(4), pages 659-675, November.

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