Warsystems— Blockchain’s governance paradox

Distributed ledger technologies “are starting to look an awful lot like some of the more conventional technical solutions that we have,” says Prof. Vili Lehdonvirta, an associate professor and senior research fellow at the Oxford Internet Institute, at a recent talk he gave at the Alan Turing Institute.

At the heart of the issue (as always) is who dictates and enforces the rules of the system if and when things go wrong, according to Lehdonvirta. He echoes a point we’ve long made, namely, that what really matters in these systems is how they deal with exceptions rather than norms.