Постинституциональная теория блокчейна: трансакционная ценность и ассамбляжи

Frolov, Daniil (2019): Постинституциональная теория блокчейна: трансакционная ценность и ассамбляжи. Forthcoming in:

Abstract

The paper on the example of blockchain demonstrates the possibilities of post-institutionalism – a new generation of institutional methodologies and theories, alternative to the new institutional economics. Based on the theory of transaction value, it has been proved that radical reduction of transaction costs by blockchain technologies will not lead to the elimination of intermediaries, but will redirect them to improving the quality of transactions and expanding the offer of additional (including hyperrelevant) transaction services. Using the theory of institutional assemblages, it is argued that it is impossible to form a homogeneous system of blockchain institutions based solely on the principles of decentralization, transparency and openness. The institutional system of blockchain will be organically hybrid, combining elements of opposing institutional logics – regulatory and algorithmic law, Ricardian and smart contracts, private and public systems, uncontrollability and arbitration. Thus, the conclusions of the neoinstitutional theory of blockchain (Davidson, De Filippi, Potts, 2018) are refuted from post-institutional positions.

• Item Type: MPRA Paper
• English Title: Post-Institutional Theory of Blockchain: Transaction Value and Assemblages
• Language: Russian
• Keywords: blockchain; smart contracts; digital economy; transaction costs; transaction services; institutions; institutionalism
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B41 - Economic Methodology; B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B52 - Institutional ; Evolutionary; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights

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