Template-Type: ReDIF-Paper 1.0
Author-Name: Plinio Limata
Author-X-Name-First: Plinio
Author-X-Name-Last: Limata
Author-Email: p.limata@lumsa.it
Author-Workplace-Name: LUMSA University 
Title: Blockchain and Institutions (I): trust and (de)centralization

Abstract: It has been argued that the adoption of the blockchain technology may lead to the disruption of many current institutions such as markets, property rights, public registries, and so on. The academic literature exploring the potential institutional applications of blockchain technologies is in its infancy but is proliferating. This literature review focuses on certain institutional critical aspects of the blockchain. Trust and (de)centralization are pivotal to the functioning of markets and society in general; blockchain promises to profoundly transform both and their correlated institutions. Technology and behaviors have a reciprocal influence. Results show several issues that must not be underestimated 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.

Length: 22 pages
Creation-Date: 2020-11
Publication-Status: 
File-URL: https://repec.lumsa.it/wp/wpC35.pdf
File-Format: Application/pdf
Number: wpC35
Classification-JEL: A13; D26; P48; O33
Keywords: blockchain, trust, decentralized governance
Handle: RePEc:lsa:wpaper:wpC35