Blockchains and the Crypto-City

Abstract

Drawing on economic transaction cost theory, this paper explores how blockchain and distributed ledger technology could shift the smart city agenda by altering transaction costs with implications for the coordination of infrastructures and resources. Like the smart city the crypto city utilizes data informatics, but can be coordinated through distributed rather than centralized systems. The data infrastructure of the crypto city can enable civil society to run local public goods and services, and facilitate economic and social entrepreneurship.

Keywords: Blockchain, Smart Cities, Data Markets, Law, Transactions Costs

JEL Classification: D02, D80, O33