Platforms, blockchain, and the law with Primavera De Filippi
Jan 31, 2024
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Primavera De Filippi, a blockchain expert, discusses the importance of platform governance in achieving the promises of blockchain technology. She explains the challenges of decentralized governance, the current state of the blockchain industry, and the concept of constitutionalization in platforms. The episode ends with information on how to follow Primavera's work.
Platform governance is crucial for ensuring accountability, reliability, and trustworthiness in blockchain technology.
Users must weigh the trade-off between trusting centralized intermediaries or assuming more personal responsibility in decentralized platforms.
Deep dives
Definition of a Platform
A platform is defined as a foundational infrastructure on which applications can be built rather than the application itself. It provides necessary infrastructure to develop and implement additional applications on top of it. For example, a blockchain can be seen as a platform on which applications can be deployed, and these applications can themselves serve as platforms for deploying other applications.
Importance of Governance in Blockchain
The success and reliability of blockchain technology hinges on effective governance. Technological guarantees like automation, immutability, and traceability can only be realized with proper governance. While blockchain is often referred to as a trustless technology, it is more accurate to see it as a confidence-enhancing machine that depends on governance. Decentralized systems make it challenging to prevent corruption of governance and concentration of power. The underlying governance of a blockchain platform is crucial for ensuring accountability, reliability, and trustworthiness.
Trade-Offs for Users in Blockchain Platforms
Blockchain platforms offer reduced counterparty risk and reliance on intermediaries, but they also require users to take on more responsibility. Users need to ensure the security of their keys and be prepared for the consequences of losing access to their accounts. While decentralized platforms provide transparency and immutability, trust in individual users' ability to safeguard their assets becomes paramount. Users must weigh the trade-off between trusting centralized intermediaries or assuming more personal responsibility in decentralized platforms.
Distributing technical building blocks and platform governance
Primavera's Bio: Primavera De Filippi is a Director of Research at the National Center of Scientific Research (CNRS) in Paris, a Faculty Associate at the Berkman Klein Center for Internet & Society at Harvard University, and a Visiting Fellow at the Robert Schuman Centre for Advanced Studies at the European University Institute. Primavera is the author of the book “Blockchain and the Law,” published in 2018 by Harvard University Press (co-authored with Aaron Wright) and she was recently awarded a € 2M research grant from the European Research Council (ERC) to investigate how blockchain technology can help improve institutional governance through greater confidence and trust, and how it can contribute to global governance.