Blockchain and the Commons

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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.

Author(s): Vangelis Papadimitropoulos
Series: Routledge Frontiers of Political Economy
Publisher: Routledge
Year: 2022

Language: English
Pages: 164
City: London

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