Principal Investigator Christian Catalini
Blockchain technology and cryptocurrencies are poised to influence the rate and direction of innovation. By allowing firms to perform costless verification, blockchain lowers the cost of auditing transaction information and allows new marketplaces to emerge. Adding a distributed ledger to the mix allows marketplaces to be bootstrapped without the need for traditional intermediaries. How will this technology challenge existing revenue models? What impact will it have on the regulation, auction, and provision of public goods, software, identity, and reputation systems? With research grounded in economic theory, Catalini will discuss how blockchain is poised to upset the global market.