Now the Code runs itself : On-chain and Off-chain governance of blockchain technology - Archive ouverte HAL Accéder directement au contenu
Article Dans Une Revue Topoi Année : 2018

Now the Code runs itself : On-chain and Off-chain governance of blockchain technology

Wessel Reijers
  • Fonction : Auteur
  • PersonId : 999695
Iris Wuisman
  • Fonction : Auteur
Morshed Mannan
  • Fonction : Auteur
Christopher Wray
  • Fonction : Auteur
Vienna Rae-Looi
  • Fonction : Auteur
Angela Cubillos Vélez
  • Fonction : Auteur
Liav Orgad
  • Fonction : Auteur

Résumé

The invention of Bitcoin in 2008 as a new type of electronic cash has arguably been one of the most radical financial innovations in the last decade. Recently, developer communities of blockchain technologies have started to turn their attention towards the issue of governance. The features of blockchain governance raise questions as to tensions that might arise between a strictly "on-chain" governance system and possible applications of "off-chain" governance. In this paper, we approach these questions by reflecting on a long-running debate in legal philosophy regarding the construction of a positivist legal order. First, we argue that on-chain governance shows striking similarities with Kelsen's notion of a positivist legal order, characterised by Schmitt as the machine that runs itself. Second, we illustrate some of the problems that emerged from the application of on-chain governance, with particular reference to a calamity in a blockchain-based system called the DAO. Third, we reflect on Schmitt's argument that the coalescence of private interests is a vulnerability of positivist legal systems, and accordingly posit this as an inherent vulnerability of on-chain governance of existing blockchain-based systems.

Domaines

Droit
Fichier principal
Vignette du fichier
64 - (2018) TOPOI - Now the Code Runs Itself.pdf (253.77 Ko) Télécharger le fichier
Origine : Fichiers produits par l'(les) auteur(s)
Loading...

Dates et versions

hal-02046663 , version 1 (22-02-2019)

Identifiants

Citer

Wessel Reijers, Iris Wuisman, Morshed Mannan, Primavera de Filippi, Christopher Wray, et al.. Now the Code runs itself : On-chain and Off-chain governance of blockchain technology. Topoi, 2018, 37, ⟨10.1007/s11245-018-9626-5⟩. ⟨hal-02046663⟩
131 Consultations
1907 Téléchargements

Altmetric

Partager

Gmail Facebook X LinkedIn More