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Blog 6 - Futarchy, blockchain and Tezos cryptocurrency

Blog 6 - Futarchy, blockchain and Tezos cryptocurrency

One of Ostroms rule for successfully defining a decentralised organisation is that members can participate in the creation and changing of rules. In 2000, Robin Hanson introduced a concept called futarchy as a mechanism of improving democracy. He had observed that predictions (betting markets) are consistently better at analysing information and predicting outcomes than experts, that is a group of people that financially back their own opinions are the best means we have toda

Blog 5 - P2P business, Ostroms rules and smart contracts.

Blog 5 - P2P business, Ostroms rules and smart contracts.

Some authors argue that implications of blockchain technology will be most greatly experienced as a revolution of institutions and governance rather than a transformation of money or as a new technology that transforms the economics of information. Whilst they hypothesize and demonstrate that the actual structure of the rules that govern block chains are in themselves similar to the principles identified by Ostrom (Davidson, De Filippi & Potts, 2017), they do not explore the

Blog 4 - Ostroms principles and blockchain.

Blog 4 - Ostroms principles and blockchain.

Ostrom proposed that a Commons can create value if a set of rules are consistently applied and respected by all of its members. She compiled eight specific rules for managing the commons. Her examples focused on small groups, and her ideas were groundbreaking, winning her the Nobel Prize in Economics in 2009. Can we use blockchain tech to scale Ostroms rules and implement them in such a way that we don't have the cost, risk and trust issues or requiring a third party person o

Blog 3 - Blockchains, Ostrom and the end of the tragedy of the commons

Blog 3 - Blockchains, Ostrom and the end of the tragedy of the commons

Two relatively recent developments challenge the wisdom that "the tragedy of the commons" requires our institutions to provide trust in the transactions between two parties and they have the potential to drive mass human abundance at the same level as have corporations and stock markets over the last 200 years. In 2009, Ostrom won the Nobel Prize in economics for demonstrating that the tragedy of the commons does not need to occur if eight principles were present in the desi

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