Cryptocurrencies and the emergence of blockocracy. Issue 5 (6th August 2020)

• Record Type: Journal Article
• Authors: Kavanagh, Donncha; Ennis, Paul John
• Is Part Of: Information society. Volume 36:Issue 5(2020)
• Page Start: 290
• Page End: 300
• Publication Date: 2020-08-06
• Subjects: Blockchain -- blockocracy -- bureaucracy -- cryptocurrencies -- governance -- Max Weber; Technology -- Social aspects; Information storage and retrieval systems -- Social aspects; Information science -- Periodicals; Sciences de l'information -- Périodiques; 303.483
• DOI: 10.1080/01972243.2020.1795958
• Languages: English
• ISSNs: 0197-2243

Abstract

Abstract: Blockocracies are a coherent, distinctive and novel organizational form bound by a collective ledger and a cryptocurrency. We frame our analysis of blockocracies against Weber's enduring description of bureaucracy, identifying those features of Weberian bureaucracies that are present, absent or marginalized in blockocracies. In contrast to bureaucracy's monocratic authority structure, authority in blockocracies is centered on four distinct layers. In each layer, there is governance of the code and governance by the code, and in the latter we distinguish between endogenous and exogenous rules. We also compare the "blockocrat" with Weber's depiction of the bureaucrat.