Economics / Technology

The entrepreneurial problem of the blockchain

This week I’m up in Sydney speaking at Blockchain Workshops. Today I presented these slides based on a working paper with Trent MacDonald (the paper will follow soon, and you can find the abstract below).

Our basic argument is that we can explain extensive cooperation by entrepreneurs around the blockchain technology using both entrepreneurial theory and comparative institutional economics. We argue that this collaboration emerges as an economising strategy over the costs of radical uncertainty while discovering market opportunities. Rather than the conventional view from innovation economics that discovery happens within firms and across markets, we propose that entrepreneurs are pooling their resources together under common property. We’re creating a database of collaborative ventures across the globe — including Bitcoin Embassies, Centres, Conferences — and analysing their governance rules based on Elinor Ostrom‘s Nobel-prize-winning work.


We’ll upload the paper when it’s completed. In the mean time feel free to contact me at


2 thoughts on “The entrepreneurial problem of the blockchain

  1. Pingback: Cold Soup: Innovation satire, Baltic Bitnations, and fatally conceited planners | Meso Soup

  2. Pingback: CryptoGoss podcast on emergent nations and emergent firms | Meso Soup

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