Transcription of Some Simple Economics of the Blockchain
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Some Simple Economics of the Blockchain
NBER WORKING PAPER SERIESSOME Simple Economics OF THE BLOCKCHAINC hristian CataliniJoshua S. GansWorking Paper 22952 BUREAU OF economic RESEARCH1050 Massachusetts AvenueCambridge, MA 02138 December 2016, Revised June 2019We are thankful to Al Roth, Muneeb Ali, Naval Ravikant, Nicola Greco, Tim Simcoe, Scott Stern, Catherine Tucker, and Jane Wu for helpful discussions. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of economic working papers are circulated for discussion and comment purposes.
networks that can be sustained in the economy. By focusing on the two key economic 4For example, while nancial intermediaries are currently able to charge relatively high fees for cross-border payments and remittances, this revenue stream will disappear if blockchain-based payment networks di use and commodify the transfer of value.
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