Foundations of Cryptoeconomic Systems

Voshmgir, Shermin and Zargham, Michael ORCID: https://orcid.org/0000-0001-5279-690X (2019) Foundations of Cryptoeconomic Systems. Working Paper Series / Institute for Cryptoeconomics / Interdisciplinary Research, 1. Research Institute for Cryptoeconomics, Vienna.

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Abstract

Blockchain networks and similar cryptoeconomic networks aresystems, specifically complex systems. They are adaptive networkswith multi-scale spatiotemporal dynamics. Individual actions towards a collective goal are incentivized with "purpose-driven" tokens. These tokens are equipped with cryptoeconomic mechanisms allowing a decentralized network to simultaneously maintain a universal state layer, support peer-to-peer settlement, andincentivize collective action. These networks therefore provide a mission-critical and safety-critical regulatory infrastructure for autonomous agents in untrusted economic networks. They also provide a rich, real-time data set reflecting all economic activities in their systems. Advances in data science and network sciencecan thus be leveraged to design and analyze these economic systems in a manner consistent with the best practices of modern systems engineering. Research that reflects all aspects of these socioeconomic networks needs (i) a complex systems approach, (ii) interdisciplinary research, and (iii) a combination of economic and engineering methods, here referred to as "economic systems engineering", for the regulation and control of these socio-economicsystems. This manuscript provides foundations for further research activities that build on these assumptions, including specific research questions and methodologies for future research in this field.

Item Type:	Paper
Keywords:	blockchain, bitcoin, cryptoeconomics, tokens, complex systems, system theory, systems engineering, economics, network science
Divisions:	Forschungsinstitute > Kryptoökonomie
Depositing User:	Shermin Voshmgir
Date Deposited:	19 Nov 2019 09:08
Last Modified:	03 Dec 2019 13:32
URI:	https://epub.wu.ac.at/id/eprint/7309

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• Foundations of Cryptoeconomic Systems. (deposited 19 Nov 2019 09:08) [Currently Displayed]
  • Foundations of Cryptoeconomic Systems. (deposited 13 Oct 2020 08:45)

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