The Programmable Economy: Envisaging an Entire Planned Economic System as a Single Computer Through Blockchain Networks

32 Pages Posted: 2 May 2017

See all articles by Kartik Hegadekatti

Kartik Hegadekatti

DoPT,Government of India

Yatish S G

Government of India, Ministry of Railways

Date Written: March 30, 2017

Abstract

Since the dawn of the concept of nation-states, many nations have been planning their economies to increase people’s prosperity and standard of living. All economies have a centralised feature where decisions are taken. But data collection and plan implementation has been cumbersome because of the manual nature of economic planning. Centralised systems, even when digitised, are prone to single point failures. Controlled Blockchains allow for an economic system to be decentralised, yet having central supervision i.e. quasi-decentralisation.

This paper deals with shifting a national economy to a network of Blockchains and creating a Programmable Economy (P.E) where the whole economic system behaves like a single computer, taking in certain inputs and providing the desired outputs.

We discuss the various factors that are needed to bring about such a transformation. We also analyse the impact this will have on various aspects of the economy and people’s lives. Finally the paper concludes by summarizing the purpose, methodology and impact of a Programmable Economy (P.E).

Keywords: blockchain, K-Y Protocol, planned economy, bitcoin

JEL Classification: C53, C63, C81, C82, C87, D04, D72, D78, D81, E27, E37 ,E47, E61, F17, F37, F47

Suggested Citation

Hegadekatti, Kartik and S G, Yatish, The Programmable Economy: Envisaging an Entire Planned Economic System as a Single Computer Through Blockchain Networks (March 30, 2017). Available at SSRN: https://ssrn.com/abstract=2943227 or http://dx.doi.org/10.2139/ssrn.2943227

Kartik Hegadekatti (Contact Author)

DoPT,Government of India ( email )

DoPT,North Block
New Delhi, Delhi 110001
India
+91-9483715544 (Phone)

HOME PAGE: http://hegadekatti.blogspot.in/

Yatish S G

Government of India, Ministry of Railways ( email )

1 Floor, Operations Division
DRM Office, Next to City Railway Station
BANGALORE, KARNATAKA 560023
India
9886601577 (Phone)
08022876111 (Fax)

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