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VGSF Finance Research Seminar

WU (Vienna University of Economics and Business) , Departments 3 D3.0.225 11:00 - 12:30

Type Lecture / discussion
Speaker Daniel Ferreira, London School of Economics
Organizer WU (Viennay University of Economics and Business) Corporate Capture of Blockchain Governance

The Finance Research Seminar informs about state-of-art research in Finance

We develop a theory of blockchain governance. In our model, the proof-of-work system, which is the most common set of rules for validating transactions in blockchains, creates an industrial ecosystem with specialized suppliers of goods and services. We analyze the interactions between blockchain governance and the market structure of the industries in the blockchain ecosystem. Our main result is that the proof-of-work system leads to a situation where the governance of the blockchain is captured by a large …rm.

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