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.

WarningThere is a more recent version of this item available.
[img]
Preview
Text
Foundations of Cryptoeconomic Systems.pdf

Download (833kB) | Preview

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

Available Versions of this Item

Actions

View Item View Item

Downloads

Downloads per month over past year

View more statistics