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The Blockchain revolution[/caption]
- ensuring the integrity of data exchanged among these billions of devices without the need for a trusted third party
- allow people that do not have access to the service of these third part into the digital economy
- easier ability to get compensated for your work or ownership of digital property
- Ronald Coase on types of costs
Searching cost
- Coordination cost
- Contracting cost
- Dimensions of search
horizontal search - wide search across the web
- vertical search - within a specific website
- sequence - blockchain?
- Innovation typically comes from the edge
monopolies have a lot of resources but lack the culture and will to explore, Yochai Benkler
- This can be attributed to high levels of bureaucracy within the core
Related references
- *The Nature of the Firm*, Ronald Coase
- [*Why the west rules for now,*](https://garyteh.com/2018/02/book-summary-why-the-west-rules-for-now/) Ian Morris