Exploring Self-Executing Contracts in Crypto Communities for Decentralized Governance

The chapter delves into self-executing contracts facilitated by cryptocurrencies like Ethereum, allowing for innovative transactions such as creating a bank on the blockchain and decentralized social networks with user-defined rules. The discussion raises the potential for forming distinct crypto-communities, bypassing traditional political systems to establish a new decentralized governance structure with incentives for participation and innovation. It also explores the future of governance and open science with crypto technology, highlighting challenges in political governance, coordination, and the need for ordinary people to effectively tackle societal threats.