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Blockchains’ twilight zones. A reasoned literature review for a critical primer

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  • Plinio Limata

    (LUMSA University)

Abstract

This literature review focuses on certain critical aspects of blockchain technology. Trust, (de)centralization and law are pivotal to the functioning of markets and society in general; blockchain promises to deeply transform both, and their correlated institutions. Technology and behaviors have a reciprocal influence. Results show several issues that must not be underestimated in order to develop the applications of the blockchain properly, and therefore reach shared benefits and avoid unintentional negative impacts at both micro (individual) and macro (societal) level.

Suggested Citation

  • Plinio Limata, 2019. "Blockchains’ twilight zones. A reasoned literature review for a critical primer," Econometica Working Papers wp76, Econometica.
    • Handle: RePEc:ent:wpaper:wp76
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    References listed on IDEAS

    as
    1. Pazaitis, Alex & De Filippi, Primavera & Kostakis, Vasilis, 2017. "Blockchain and value systems in the sharing economy: The illustrative case of Backfeed," Technological Forecasting and Social Change, Elsevier, vol. 125(C), pages 105-115.
    2. Claude Ménard & Mary M. Shirley (ed.), 2018. "A Research Agenda for New Institutional Economics," Books, Edward Elgar Publishing, number 17960.
    3. Patrick Waelbroeck, 2018. "An Economic Analysis of Blockchains," CESifo Working Paper Series 6893, CESifo.
    4. Alex Pazaitis & Primavera De Filippi & Vasilis Kostakis, 2017. "Blockchain and Value Systems in the Sharing Economy: The Illustrative Case of Backfeed," The Other Canon Foundation and Tallinn University of Technology Working Papers in Technology Governance and Economic Dynamics 73, TUT Ragnar Nurkse Department of Innovation and Governance.
    5. J. Michael Graglia & Christopher Mellon, 2018. "Blockchain and Property in 2018: At the End of the Beginning," Innovations: Technology, Governance, Globalization, MIT Press, vol. 12(1-2), pages 90-116, Summer-Fa.
    6. Cara Lapointe & Lara Fishbane, 2019. "The Blockchain Ethical Design Framework," Innovations: Technology, Governance, Globalization, MIT Press, vol. 12(3-4), pages 50-71, Winter-Sp.
    7. Joshua S. Gans, 2019. "The Fine Print in Smart Contracts," NBER Working Papers 25443, National Bureau of Economic Research, Inc.
    8. Alex Pazaitis & Primavera de Filippi & Vasilis Kostakis, 2017. "Blockchain and value systems in the sharing economy: The illustrative case of Backfeed," Post-Print hal-01676881, HAL.
    9. Marten Risius & Kai Spohrer, 2017. "A Blockchain Research Framework," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 59(6), pages 385-409, December.
    10. Darcy W.E. Allen, 2019. "Governing the entrepreneurial discovery of blockchain applications," Journal of Entrepreneurship and Public Policy, Emerald Group Publishing Limited, vol. 9(2), pages 194-212, October.
    11. Vedat Akgiray, 2019. "The Potential for Blockchain Technology in Corporate Governance," OECD Corporate Governance Working Papers 21, OECD Publishing.
    12. Massimiliano Vatiero, 2018. "Smart contracts and transaction costs," Discussion Papers 2018/238, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    blockchain; trust; law; decentralized governance;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • D26 - Microeconomics - - Production and Organizations - - - Crowd-Based Firms
    • L17 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Open Source Products and Markets
    • K24 - Law and Economics - - Regulation and Business Law - - - Cyber Law
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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