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The Digital Democracy of Blockchain: Beyond Libertarianism to Commonism

In: Affective Capitalism

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  • Hangwoo Lee

    (Chungbuk National University)

Abstract

Blockchain, the latest form of open-source, peer-to-peer networking, has garnered much attention as a groundbreaking technology that may expand free and equal social relations. The progressive forecasts about blockchain’s possible contribution to digital democracy, however, tend to deal short shrift with the libertarian implications of blockchain-based projects. Critiques of the libertarian basis of blockchain, on the other hand, also tend to throw the baby with the bathwater by disparaging the technology’s commonist potential. The question at the heart of this chapter is how the combination of the commons and blockchain is distinct from the libertarian approach, on the one hand, and from most cryptocurrencies, including Bitcoin, on the other. By analyzing the case of FairCoin, the cryptocurrency of FairCoop, this chapter examines the implications of blockchain-based cryptocurrencies in organizing the common’s independent, autonomous, and global production and distribution of value.

Suggested Citation

  • Hangwoo Lee, 2023. "The Digital Democracy of Blockchain: Beyond Libertarianism to Commonism," Springer Books, in: Affective Capitalism, chapter 0, pages 173-200, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-8174-8_8
    DOI: 10.1007/978-981-99-8174-8_8
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