Signals & Incentives in Blockchain Applications

Cameron Harwick, Professor of Accounting, Economics, and Finance, published a chapter titled “Signals and Incentives in Blockchain Applications” explaining how cryptocurrencies work by comparing monetary systems to language.

Cameron Harwick has published “Signals and Incentives in Blockchain Applications” in the new volume “The Economics of Blockchains and Cryptocurrencies: A Transaction Costs Revolution.” The chapter argues that the fundamental problem of monetary systems, like language, is: when can you trust a signal enough to act on it? By casting blockchains as a solution to this problem, the chapter assesses possibilities for crypto development, and concludes that “blockchain” is unlikely to outgrow “cryptocurrency”.

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Posted: October 26, 2022