3min chapter

Stephan Livera Podcast cover image

The Real Origins of Money with Natalie Smolenski SLP538

Stephan Livera Podcast

CHAPTER

The Role of Institutions and Competition in the Bitcoin System

This chapter explores the role of institutions as social technologies for coordinating action, highlighting how they increase the costs of defection and foster cooperation. The competition between different systems like the US dollar and Bitcoin is also discussed, along with the potential obsolescence or emergence of new institutions.

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