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dc.contributor.authorMcCullagh, Adrian
dc.contributor.authorFlood, John A
dc.date.accessioned2020-07-07T05:10:27Z
dc.date.available2020-07-07T05:10:27Z
dc.date.issued2019
dc.identifier.doi10.2139/ssrn.3404087
dc.identifier.urihttp://hdl.handle.net/10072/395234
dc.description.abstractNakamoto proposed a new solution to transact value via the internet. And since 2009 blockchain technology has expanded and diversified. It has, however, proven to be inefficient in the way it achieves its outcomes, especially through the proof of work protocol. Other developers are promoting alternative methods but, as yet, none has superseded proof of work. The competing protocols illuminate a key feature of the blockchain community, namely, its inability to create consensus in a decentralised community. Because of this lack of consensus the formation of standards is particularly difficult to achieve. We examine three areas where some form of agreement over standards will be essential if blockchain is to evolve successfully. These three areas are blockchain governance, smart contracts, and interoperability of blockchains. We argue that because standards formation is such contested process the blockchain community will persist in creating difficulties for itself until it is able to overcome internal divisions.
dc.publisherGriffith University Law School
dc.subject.fieldofresearchCommerce, Management, Tourism and Services
dc.subject.fieldofresearchcode15
dc.subject.keywordsblockchain
dc.subject.keywordsstandards
dc.subject.keywordscommunity
dc.subject.keywordsconsensus
dc.subject.keywordssmart contracts
dc.titleBlockchain’s Future: Can the Decentralised Blockchain Community Succeed in Creating Standards?
dc.typeReport
dc.type.descriptionU2 - Reviews/Reports
dcterms.bibliographicCitationMcCullagh, A; Flood, JA, Blockchain’s Future: Can the Decentralised Blockchain Community Succeed in Creating Standards?, 2019
dc.date.updated2020-07-07T05:05:07Z
dc.description.versionVersion of Record (VoR)
gro.rights.copyright© 2019 Griffith University & the Author(s). The attached file is reproduced here in accordance with the copyright policy of the publisher. Please refer to the publisher’s website for further information.
gro.hasfulltextFull Text
gro.griffith.authorFlood, John A.
gro.griffith.authorMcCullagh, Adrian J.


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