In this paper, by comparing initial public offerings (IPOs) and initial coin offerings (ICOs), we study the impact of blockchain technology on financial regulation. After an initial study of the underlying principles driving both processes, we establish an extensive typology of ICOs and present...

“Code is law” is a form of regulation whereby technology is used to enforce existing rules. With the advent of Blockchain and Machine Learning, we are witnessing a new trend, whereby technology is progressively taking the upper-hand over these rules. Yet, as opposed to traditional legal...

This article introduces the symposium “Toward a Philosophy of Blockchain,” which provides a philosophical contemplation of blockchain technology, the digital ledger software underlying cryptocurrencies such as bitcoin, for the secure transfer of money, assets, and information via the...

This article explores the potential of blockchain technology in enabling a new system of value that will better support the dynamics of social sharing. Our study begins with a discussion of the evolution of value perceptions in the history of economic thought. Starting with a view on value as a...

“Code is law” refers to the idea that, with the advent of digital technology, code has progressively established itself as the predominant way to regulate the behavior of Internet users. Yet, while computer code can enforce rules more efficiently than legal code, it also comes with a series...

This paper analyses the use of blockchain technology to support the governance of commons-pool resources, as studied by Elinor Ostrom. It argues that the technological guarantees of blockchain technology—in terms of ex-ante automation and ex-post verification—can replace the traditional...

This paper compares Initial Public Offerings (IPOs) with Initial Coin Offerings (ICOs) and explores their corresponding risks and limitations, with a view to analyse the extent to which the latter should be subject to the same regulatory framework as the former. After assessing the underlying...

Distributed ledger technology, frequently designated as “blockchain,” is evolving from its hype phase toward greater maturity and long-term value creation. Although many academic communities were initially slow to grasp the technology’s numerous potential implications, meanwhile a...

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...