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2 Notre Dame J. on Emerging Tech. 1 (2021)

handle is hein.journals/ndjet2 and id is 1 raw text is: 







VOLUME   2


MARCH  2021


        JOURNAL ON EMERGING TECHNOLOGIES
                     ©2 021 bythe NotreDame journal on EmergingTechnologies


                          ARTICLES

      CAN  PERMISSIONLESS BLOCKCHAINS AVOID
              GOVERNANCE AND THE LAW?

    EricAlston, Wilson Law, Ilia Murtazashvili & Martin Weiss


INTRODUCTION ...................................................................3
I.  INCOMPLETE GOVERNANCE AS DYNAMIC, COSTLY AND POLYCENTRIC ............ 7
II. DECENTRALIZED GOVERNANCE BY CODE: PERMISSIONLESS BLOCKCHAINS ..... 11
III. GOVERNANCE BY BLOCKCHAIN PROTOCOL ................................... 13
  A.  Consensus Mechanisms/AmendmentRules  ...................... 14
  B . Forking ............................................................. 16
  C.  Complex Smart Contracts andDAOs............................... 20
IV. GOVERNANCE SUBSIDIARY TO A CRYPTOCURRENCY BLOCKCHAIN ............. 21
V.  COMPETITIVE GOVERNANCE OF CRYPTOCURRENCY BLOCKCHAINS .............. 24
VI. SUPERIOR GOVERNANCE OF CRYPTOCURRENCY BLOCKCHAINS ................. 27
CONCLUSION ...................................................................  30









1                               ©2021by Eric Alston, Wilson Law, Ilia
                                       Murtazashvili & Martin Weiss


ISSUE 1