Democratic Blockchain Design - 10.1628/jite-2019-0023 - Mohr Siebeck
Economics

Yoan Hermstrüwer

Democratic Blockchain Design

Volume 175 () / Issue 1, pp. 163-177 (15)
Published 06.02.2019

15,00 € including VAT
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Democracy requires rules that are designed to prevent the abuse of power and money. Blockchain technology is sometimes heralded as a solution to mitigate the problems associated with voting procedures, such as counting errors, fraud,or the improper use of money to influence the outcome of the collective choice procedure. In this article, I argue that the democratic potential of the blockchain hinges on the specific design of the rules governing the validation of blocks.In support of this argument, I shed light on the governance problems raised by standard protocols such as proof-of-work, proof-of-stake, and on-chain voting.
Authors/Editors

Yoan Hermstrüwer ist Senior Research Fellow am Max-Planck-Institut zur Erforschung von Gemeinschaftsgütern in Bonn.