The Journal of The British Blockchain Association (Apr 2018)

The Return of ‘The Nature of the Firm’: The Role of the Blockchain

  • Prateek Goorha

DOI
https://doi.org/10.31585/jbba-1-1-(2)2018
Journal volume & issue
Vol. 1, no. 1
pp. 71 – 73

Abstract

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In this note, I return to Coase (1937), on its 80th anniversary, to assess whether its logic and insight can be reconciled with the blockchain revolution. I argue that, indeed, it can, and propose the existence of a third method of organizing economic activity in a specialized exchange economy, in addition to the two that Coase considered. I call it the cryptographic stigmergy. If there be such merit in the argument here, let it be dedicated to the memory of Ronald Coase.

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