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The proposition that constitutional rules serve as permanent, fixed points of interaction are challenged by observations of contestable rule amendment and the emergence of de facto authority. This observation not only applies to conventional political constitutions, but to the fundamental rules...
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In this paper we provide a brief survey of the potential of blockchain technology to propel a process of private entrepreneurial discovery of institutions that challenge state hegemony. Entrepreneurs now have access to new tools to develop decentralised private governance across areas which have...
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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....
Persistent link: https://www.econbiz.de/10012899407
For the past century economists have proposed a suite of theories relating to industrial dynamics, technological change and innovation. There has been an implication in these models that the institutional environment is stable. However, a new class of institutional technologies — most notably...
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In this paper we apply institutional cryptoeconomics to the information problems in global trade networks, model the incentives under which blockchain-based supply chain infrastructure will be built, and make predictions about the future of supply chain governance. We propose that blockchain...
Persistent link: https://www.econbiz.de/10012850669
The purpose of this paper is to conceptualise the chief aspects of policy interest in blockchain technology. Favourable policy dispositions towards blockchain technology are interpreted as political efforts to develop local, blockchain-enabled economies. So-called "crypto-friendly" jurisdictions...
Persistent link: https://www.econbiz.de/10012898757