Theory and Reality of Cryptocurrency Governance. Issue 2 (3rd April 2019)

• Record Type: Journal Article
• Authors: Spithoven, Antoon
• Is Part Of: Journal of economic issues. Volume 53:Issue 2(2019)
• Page Start: 385
• Page End: 393
• Publication Date: 2019-04-03
• Subjects: cryptocurrency -- governance; B52 -- E4 -- E5 -- L5; Economics -- Periodicals; Economics; Économie politique -- Périodiques; Economie; ECONOMICS; ECONOMIC POLICY; Periodicals; 330.05
• DOI: 10.1080/00213624.2019.1594518
• Languages: English
• ISSNs: 0021-3624

Abstract

Abstract: I analyze cryptocurrency ecosystems with Elinor Ostrom's meta-framework for self-governance. I conclude that Bitcoin falls short in its self-governing ambitions, while cryptocurrency software protocols and blockchain technologies have potentialities within "permissioned" peer-to-peer private or hybrid networks. However, regulation and supervision by trusted third parties are required.