Blockchain and Investment: An Austrian Approach
Allen, DWE, Berg, C, Davidson, S and Potts, J, ‘Blockchain and Investment: An Austrian Approach’, Review of Austrian Economics, Forthcoming
14 Pages Posted: 24 Feb 2020
Date Written: January 28, 2020
Investment is a function of expected profit, which involves calculation of the cost of trust. Blockchain technology is a new institutional technology (Davidson et al 2018) that industrialises trust (Berg et al 2018). We therefore expect that the adoption of blockchain technology into the economy will affect investment and capital structure. Using a broad Austrian economic approach, we examine how blockchain technology will affect the cost of trust, patterns of investment, and economic institutions.
Keywords: Blockchain Technology, Austrian Capital Theory, Institutional Cryptoeconomics, Cost of Trust
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