Blockchain and the Commons

Description

Recent years have seen a surge of interest in ‘the commons’ based on a simple yet radical idea: great improvements in production and management could be achieved by reducing barriers to knowledge exchange and power-sharing. Ranging from meadows, forests and parks to language, open-source software (FLOSS and Blockchain) and 3D printers, the commons are distributed or common property resources/infrastructures that are self-managed by their user communities. While acknowledging the significant contributions that can be made through commons-based peer production, this book provides a critical examination of the commons with the aim of contributing to their long-term sustainability. In particular, the book examines the relation of Blockchain to the commons by illustrating the case study of the Commons Stack. Drawing on a range of interdisciplinary ideas and methodologies, the book argues that there are a number of economic and social barriers that are obstructing the wider reproduction of the commons. Problems with access to capital and training, the lack of entrepreneurial and managerial skills and the absence of institutional support from governments, larger co-ops and NGOs are some of the external difficulties facing the commons today. Meanwhile, localism, gated communities, vested interests, atavism, traditionalism, ideology, conflict, neo-conservatism and techno-elitism represent some of the internal contradictions inherent in the commons. Through overcoming these contradictions, the ultimate goal is to transform capitalism into the postcapitalism of the commons: the creation of a social economy self-organised around the commons. This book provides vital reading for anyone interested in the commons, from economics, techno-politics and across the social sciences. Cover Half Title Series Information Title Page Copyright Page Table of Contents Acknowledgements 1 Introduction Blockchain and the Commons Book Structure 2 The Commons The Typology of the Commons Local Commons The Tragedy of the Commons The Comedy of the Commons Global Commons The Digital Commons FLOSS Platform Capitalism Platform Cooperativism Cosmo-Local Commons The DG-ML Model Open Cooperativism Platform Socialism The Political Economy of the Commons Neoclassical Versus Commons Economics Commons Economics The Political Theory of the Commons Liberalism Post-Capitalism Anti-Capitalism The Contradictions of the Commons Notes 3 The Blockchain The History of the Internet and Blockchain Bitcoin Proof of Work Monetary Policy Ethereum Proof of Stake Smart Contracts, DApps and DAOs Blockchain Types Blockchain Benefits Intermediaries Finance Smart Contracts E-Government The Internet of Things DApps, DeFi, ReFi, NFTs and DAOs DApps DeFi ReFi NFTs DAOs Blockchain Risks Monetary Policy Performance, Scalability and Security Interoperability Energy Usage Public Policy and Legal Frameworks The Politics of Blockchain Crypto-Libertarianism Crypto-Scepticism Neo-Institutionalism Ostrom’s Commons 3.0 Crypto-Commonism Blockchain Commons, Crypto-Libertarianism and DAOs Notes 4 The Commons Stack Introduction Methodology The Design Layer The Augmented Bonding Curve Curation Markets Primary and Secondary Markets The Governance Layer Clearly Defined Community Boundaries Congruence Between Rules and Local Conditions Collective Choice Arrangements Monitoring Graduated Sanctions Conflict Resolution Mechanisms Local Enforcement of Local Rules Multiple Layers of Nested Enterprises Organisational Structure The Production Layer The Finance Layer The First Hatch: the Token Engineering Commons TEC Hatch Phases Pre-Hatch Phase Post-Hatch Phase Stakeholders and Tokenomics The TEC Organisational Structure Technical and Social Challenges Notes 5 The Post-Hegemony of the Commons Notes References Index