Barter Trade and Reallocation System and the New Blockchain Distributed Digital Technology

The new blockchain distributed digital technology has the potential to make a transformational change in the way that people transact in the market; a change that is welfare maximizing. The potential transformation was demonstrated in the first time when Satoshi Nakamato came out with the Bitcoin. The new technology heralded by the Bitcoin makes it possible to make the exchange economy with competitive equilibrium that is the heart of the neoclassical economic model a blueprint for operating market. The neoclassical exchange economy model is a self-organization and it is decentralized. A necessary condition for the operations of the model is an efficient decentralized trade and reallocation system. It is shown in the paper that such a trade and reallocation system should be also a self-organization with no central control where chains of pairwise transactions emerge from simple tasks by individual components of the system

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Year of publication:	2018
Authors:	Agmon, Tamir
Other Persons:	Cohen, Levy (contributor)
Publisher:	[2018]: [S.l.] : SSRN
Subject:	Blockchain \| Digitalisierung \| Digitization \| Kompensationsgeschäft \| Offset agreement \| Technischer Fortschritt \| Technological change \| Informationstechnik \| Information technology \| Tauschwirtschaft \| Barter economy

Extent:	1 Online-Ressource (11 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 11, 2018 erstellt
Other identifiers:	10.2139/ssrn.3282481 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://ebvufind01.dmz1.zbw.eu/10012908214