Blockchain Innovation Commons

By Darcy WE Allen

Abstract: This paper analyses the private governance mechanisms facilitating the entrepreneurial discovery of uses for a new potential general purpose technology, blockchain. The contribution is to outline and analyse three main types of private governance mechanisms in which crypto-entrepreneurs undertake non-price coordination with others, including bitcoin embassies, hack-a-thons and online forums. The heterogeneity of these blockchain innovation commons are discussed across multiple institutional dimensions. The implication is a greater understanding of the economics of the early stages of new technologies.

Available at SSRN.