Blockchains: An experiment in governance without power

posted by
October 4, 2016
Foundation for Economic Education
by Ariel Deschapell  
Posted in Commentary

"According to conventional political ideas a decentralized and wholly voluntary system of governance should not be possible, let alone optimal. The success of bitcoin as a monetary and social experiment therefore could depend on shattering this very narrative. Unlike other systems, its organization is not defined by power structures, but by voluntary consensus and open competition." (10/03/16)  

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  • dL

    By and large a good essay. However, I might dispute the premise of “governance w/o power.” And I’m not sure governance w/o power is the objective. It is more like exercise of unaccountable power w/o competition.

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