This paper presents the implementation of a derivative market on a public blockchain. Managing derivatives on a distributed system requires a careful re-design of the derivatives business model. The implementation presented here provides many of the features financial professionals are used to,...

Given the potential benefits of blockchain, it is imperative to incorporate a stable decentralized governance structure capable of promoting network value and reliability through a set of community-agreed rules and behaviors. Political scientist Elinor Ostrom’s polycentric approach to...