This timely book is an innovative look at how blockchain technology will transform the structure of social and economic life. The security of blockchain supports the provision and maintenance of reliable databases and the creation of rule-based governance protocols. Leading contributors expertly review the impact of blockchain on existing structures of law, monetary systems, supply chains and business organizations.
Using economic and institutional theory, the book presents a vision for understanding the future development of blockchain technology and outlines the likely path of transformation that blockchain will drive in industry, supply chains and firms. Furthermore, it answers key questions such as: will Bitcoin or another cryptocurrency become the money of the future? How has blockchain already begun transforming economic activity? How can we evaluate the likely trajectory of technological development and application?
This informative book is an excellent resource for academics or professionals interested in a theoretically sound perspective on blockchain. Written in an accessible prose, it provides an introduction for non-experts looking to learn more about the wide-ranging implications of blockchain and cryptocurrency.
Recenzijos
How are blockchain programs, on which cryptocurrencies and other applications are built, shaping the future of firms, markets, and finance? James Caton has assembled a first-rate group of contributors to provide cutting-edge insights into the new technologies and their sometimes surprising implications. Readers of this volume will be a step ahead in understanding what is happening in the evolution of payment systems and in the governance of market institutions. -- Lawrence H. White, George Mason University, US The Economics of Blockchain and Cryptocurrency reveals the profound impact of blockchain, and its growing suite of applications, in reconfiguring the costs of economic exchange. This engaging collection, written by leading experts in the field, represents an essential guide to understanding the operational and institutional implications of blockchain. -- Mikayla Novak, Australian National University, Australia
Contents:
Introduction to The Economics of Blockchain and Cryptocurrency x
James Lee Caton
1 Institutional cryptoeconomics 1
Sinclair Davidson and Jason Potts
2 Can cryptocurrencies become a commonly accepted means
of exchange? 13
Nicolįs Cachanosky
3 Fiat money, cryptocurrencies and monetary theory 29
David Glasner
4 The value of bitcoin in the year 2141 (and beyond!) 51
Joshua R. Hendrickson and William J. Luther
5 The Silicon Savannah: exploring the promise of
cryptocurrency in Africa 69
Scott Burns
6 How blockchain technology can impact agriculture 95
Prithviraj Lakkakula and William W. Wilson
7 Blockchain and the law legality, law-like characteristics,
and legal applications 117
Eric Alston
8 Signals and incentives in blockchain applications 145
Cameron Harwick
9 Trustless architecture and the V-form organization 165
Chris Berg, Sinclair Davidson and Jason Potts
10 On V-form firms: governance, cryptocurrency, and
internalization on the blockchain 181
James Lee Caton
Index
Edited by James Lee Caton, Center for the Study of Public Choice and Private Enterprise, Challey Institute for Global Innovation and Growth, Department of Agribusiness and Applied Economics, North Dakota State University, US
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