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Extitutional Theory: No Rules, No Roles, just Dynamics

The Blockchain Socialist

CHAPTER

Off-Chain Governance Affects on-Cash Governance

The protocol is only the institutional aspect of things, but you will never understand how the system works if you don't also look at all the off-chain dynamics. In some ways it's one of the best fields on which to apply exititional theory. Because we cannot just rely on our understanding of traditional institutional frameworks to understand and to design a proper blockchain governance structure.

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