Techquitable How decentralized governance has evolved, with Dr. Michael Abramowicz
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Mar 11, 2025 Dr. Michael Abramowicz, Associate Dean for Strategy and Innovation at George Washington University, unpacks the evolution of decentralized blockchain governance. He highlights how blockchain adjudication methods are revolutionizing decision-making, while emphasizing the importance of incentives in these systems. Dr. Abramowicz critiques current practices and discusses historical frameworks like Kleros. He also touches on the tension between traditional business hierarchies and newer decentralized models, revealing how technology challenges existing legal structures.
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Decentralized Court Idea
- Michael Abramowicz's interest in decentralized governance stemmed from a law school query about differing information aggregation methods in markets and legal systems.
- He wondered if a decentralized, market-like court could exist.
Bitcoin's Impact
- Abramowicz's early work explored market-based adjudication, assuming a central setup authority.
- Bitcoin's emergence as a decentralized currency prompted him to rethink his model.
Focal Points in Decentralization
- Decentralized systems face the challenge of determining a system's output without a central authority.
- Schelling's focal points concept suggests consensus can arise from shared expectations.