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.
Decentralization's Value
- Decentralization isn't inherently valuable; it's useful for overcoming problems like high fixed costs and limited access in adjudication.
- Many blockchain projects aren't truly decentralized, prioritizing investor control.
Hierarchy's Stickiness
- Hierarchical business models, like corporations with CEOs, remain dominant despite inherent resistance to authority.
- This stickiness suggests hierarchies offer benefits, potentially outweighing decentralization.