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22 Vand. J. Ent. & Tech. L. 273 (2019-2020)
The Very Brief History of Decentralized Blockchain Governance

handle is hein.journals/vanep22 and id is 273 raw text is: 









            The Very Brief History of

Decentralized Blockchain Governance


                       Michael Abramowicz*

                            ABSTRACT

       A new form of blockchain governance involving the use of formal
games  that  incentivize participants to identify focal resolutions to
normative questions is emerging. This symposium contribution provides
a brief survey of the literature proposing and critiquing the use of such
mechanisms   of decentralized decision-making, and it evaluates early
laboratory and real-world experiments with this approach.

                       TABLE  OF CONTENTS

I.    INTRODUCTION        .............................................274
II.   DECISION-MAKING   THROUGH  SCHELLING   POINTS.....    ......278
      A. Informal Coordination with Schelling Points....      ......278
      B. Formal Coordination with Schelling Points .......      ......281
      C. Schelling Points in Cryptocurrency ...........         .......284
          1. Autonocoin, SchellingCoin, and TruthCoin Proposals.. 287
          2. The P + Epsilon Attack  .......................   289
III.  EXPERIMENTATION   WITH SCHELLING  POINT
      DECISION-MAKING.       ................................. .....292
      A. Laboratory Experimentation       .............................293
      B. Augur         .......................................294
      C. Token-Curated Registries    ....................   .....296
IV.   RECOMMENDATIONS AND CONCLUSION ...............    ...........297





         Oppenheim Professor of Law, George Washington University. I am grateful to David
Abrams and Omri Marian for helpful comments and to participants in workshops at Boston College
and George Washington University. I am grateful to Amber Banks, Taylor Caleb, Caroline Hyde,
Jin Yoshikawa, and the other editors at the Vanderbilt Journal of Entertainment & Technology
Law for their excellent assistance in the publication process. All errors are my own.
                                273

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