What Diplomacy in the Ancient Near East Can Tell Us About Blockchain Technology

Berg, Chris

doi:10.5195/ledger.2017.104

Cited by 19 publications

(9 citation statements)

References 15 publications

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“…Blockchain is a new institutional governance technology for creating and maintaining distributed ledgers of information (Berg, ; Davidson et al, ; MacDonald, Allen, & Potts, ). First invented by Satoshi Nakamoto () in its application of the cryptocurrency bitcoin, blockchain combines a number of existing technologies—including asymmetric cryptography, peer‐to‐peer networking, and append‐only databases—to establish secure, distributed ledgers of information.…”

Section: Supply Chain Information On a Blockchainmentioning

confidence: 99%

International policy coordination for blockchain supply chains

Allen

Berg

Davidson

et al. 2019

Asia & Pacific Policy Stud

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From the adoption of the shipping container to coordinated trade liberalization, reductions in trade costs have propelled modern globalization. In this paper, we analyse the application of blockchain to reduce the trade costs of producing and coordinating trusted information along supply chains. Consumers, producers, and governments increasingly demand information about the quality, characteristics, and provenance of traded goods. Partially due to the risks of error and fraud, this information is costly to produce and to maintain between dispersed parties. Recent efforts have sought to overcome these costs-such as paperless trade agendas-through the application of new technologies. Our focus is on how blockchain technology can form a new decentralized economic infrastructure for supply chains by governing decentralized dynamic ledgers of information about goods as they move. We outline the potential economic consequences of blockchain supply chains before examining policy. Effective adoption faces a range of policy challenges including regulatory recognition and interoperability across jurisdictions. We propose a high-level policy ---This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.

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Section: Supply Chain Information On a Blockchainmentioning

confidence: 99%

International policy coordination for blockchain supply chains

Allen

Berg

Davidson

et al. 2019

Asia & Pacific Policy Stud

Self Cite

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“…Changes to the nature of ledgers have long been associated with changes in institutions. The emergence of literacy in the ancient Near East enabled detailed records of taxation and expenditure [6,10], while double entry bookkeeping contributed to the emergence of capitalism by facilitating distributed ownership of enterprise, the spread of risk, and the emergence of multinational corporations [11]. The propensity to exchange is closely correlated with the ready verification of property rights, along with a system of courts and law to enforce those rights [12].…”

Section: Blockchain As An Institutional Technology For Supply Chain Imentioning

confidence: 99%

“…When the standardised shipping container was invented in the 1950s it didn't just made goods cheaper; it also altered trading patterns, opened up new trade networks, and made some traditional port infrastructure redundant [2]. In this paper we draw on the existing literature of blockchain-based supply chains [1,3] together with the emerging field of institutional cryptoeconomics [4][5][6] to ask the question: how might blockchain-based supply chain infrastructure change our global trade networks? We first model the incentives necessary for supply chain actors to implement and build this infrastructure, before making four predictions:…”

Section: Introductionmentioning

confidence: 99%

Blockchain and Supply Chains: V-form Organisations, Value Redistributions, De-commoditisation and Quality Proxies

Allen¹,

Berg²,

Markey‐Towler³

2019

The JBBA

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We apply institutional cryptoeconomics to the information problems in global trade, model the incentives under which blockchain-based supply chain infrastructure will be built, and make predictions about the future of supply chains. We argue blockchain will change the patterns and dynamics of how, where and what we trade by: (1) facilitating new forms of economic organisation governing supply chain coordination (such as the V-form organisation); (2) decreasing information asymmetries and shifting economic power towards the ends of supply chains (e.g. primary producers); (3) changing the dimensions along which we can reliably differentiate goods and therefore de-commoditising goods and disaggregating price signals; and (4) decreasing consumer reliance on quality proxies (e.g. production within national borders).

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“…Hyperledger Fabric is currently the leading infrastructure on which private blockchains are based. Berg (2017) compared blockchains with diplomatic protocols and found striking similarities. Both rely on records detailing "past dealings, public and ritualistic verification of transactions, and game-theoretic mechanisms of reciprocity" (Berg, 2017, p.55).…”

Section: Blockchain and Distributed Ledger Technologiesmentioning

confidence: 99%

Visionizing a Fiat Cryptocurrency

Salhout¹,

Bechter

2018

CSBM

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Bitcoin is part of a wider range of opportunities to creating cryptocurrencies based on blockchains. Research has shown that the existing cryptocurrencies are very volatile and often illiquid. A cryptocurrency endorsed by a Central Bank, as the starter of a private blockchain, will most likely show more stability. It may even take the form of legal tender. However, since almost all countries have their own currency already, the governments will not feel the need for an additional currency. One exception is Palestine. It enjoyed the privilege of having its own currency in the past. The purpose of this research is the evaluation of the feasibility of a cryptocurrency as legal tender. The authors recommend a new Palestinian Pound built on a private blockchain using Hyperledger. In practice it would not differ from any other fiat (legal) currency. The current weakness of not having its own currency could be turned into a strength by becoming the most advanced economy where transactions are transparent and efficient. This paper fills a research gap by analyzing the opportunities of a cryptocurrency that is actual legal tender and endorsed by a monetary authority.

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What Diplomacy in the Ancient Near East Can Tell Us About Blockchain Technology

Cited by 19 publications

References 15 publications

International policy coordination for blockchain supply chains

International policy coordination for blockchain supply chains

Blockchain and Supply Chains: V-form Organisations, Value Redistributions, De-commoditisation and Quality Proxies

Visionizing a Fiat Cryptocurrency

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