Blockchains are an institutional technology for facilitating decentralised exchange. As open-source software, anybody can develop their own blockchain, ‘fork’ an existing blockchain, or stack a new blockchain on top of an existing one - creating a new environment for exchange with its own...

Claims blockchain is more than just ICT innovation, but facilitates new types of economic organization and governance. Suggests two approaches to economics of blockchain: innovation-centred and governance-centred. Argues that the governance approach — based in new institutional economics and...

Distributed ledger technology, invented for cryptocurrencies, is increasingly understood as a new general-purpose technology for a broad range of economic activities that rely on consensus of a database of transactions or records. However, blockchains are more than just a disruptive new ICT....

What are the long-run economic and policy consequences of wide-spread blockchain technology adoption? We examine the structural economic effects of this institutional innovation as disintermediation in markets, dehierarchicalisation of organisations, and growing private provision of economic...

What are the long-run economic and policy consequences of wide-spread blockchain technology adoption? We examine the structural economic effects of this institutional innovation as disintermediation in markets, dehierarchicalisation of organisations, and growing private provision of economic...

Abstract. Blockchain (or crypto) foundations are nonprofit organizations that supply public goods to a crypto-economy. The standard theory of crypto foundations is that they are like governments with respect to a national or regional economy, i.e. raising a public treasury and allocating...

Two of the most important technological advancements currently underway are the advent of quantum technologies, and the transitioning of global financial systems towards cryptographic assets, notably blockchain-based cryptocurrencies and smart contracts. There is, however, an important interplay...

The arrival of information technology in the 1980s and 1990s created an opportunity for business process reengineering. We argue that the arrival of next generation information technology for business - i.e. blockchain - creates a new set of similar opportunities, but this time across entire...

From the adoption of the shipping container to coordinated trade liberalisation, reductions in trade costs have propelled modern globalisation. In this paper we analyse the application of blockchain to reduce the trade costs of producing and coordinating trusted information along supply chains....