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Blockchain and institutions: trust and (de)centralization

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  • Plinio Limata

    (Roma Tre University)

Abstract

Innovation and technology have been pivotal to last societies’ well-being. Among the most promising there is the blockchain, which has gained momentum with its narrative of disruption of many current institutions based on the libertarian promise that decentralized and trustless society and economy are possible. Technology and behaviors have reciprocal influence; this research investigates blockchains’ impacts on trust and (de)centralization, considered crucial aspects of markets and social functioning. The scope is to highlight the possible shortcomings and challenges of possible blockchain adoption on a large scale to construct a complementary and inclusive ecosystem that works for the general interest, avoiding unintentional negative impacts of a technology that may play a critical role in the infrastructure of our institutions.

Suggested Citation

  • Plinio Limata, 2024. "Blockchain and institutions: trust and (de)centralization," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 71(1), pages 1-17, March.
    • Handle: RePEc:spr:inrvec:v:71:y:2024:i:1:d:10.1007_s12232-023-00431-w
    DOI: 10.1007/s12232-023-00431-w
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    More about this item

    Keywords

    Blockchain; Institutions; Trust; Decentralization;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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