Reinsberg, B. (2020) Fully-automated liberalism? Blockchain technology and international cooperation in an anarchic world. International Theory, (doi: 10.1017/S1752971920000305)
http://eprints.gla.ac.uk/217843/7/217843.pdf "Fully-automated liberalism? Blockchain technology andinternational cooperation in an anarchic worldBernhard Reinsberg 1, 21 – University of Glasgow, School of Social and Political Sciences, 40 Bute Gardens, Glasgow, G12 8RT, [email protected] – Centre for Business Research, University of Cambridge Abstract: A recent wave of scholarship attests that the liberal world order is under threat.While there is disagreement about the underlying reasons for this diagnosis, there are fewattempts to further our understanding of how the liberal order can be reinvigorated. Thisarticle probes the potential of blockchain technology to promote international cooperation. Blockchain technology is a data structure that enables global governance stakeholders toestablish decentralized governance systems which provide high-powered incentives forenhanced cooperation. By outlining the contours of a blockchain-based global governancesystem for climate policy, the article illustrates that blockchain technology holds theoreticalpromise to foster cooperation in three ways: leveraging new sources of information throughblockchain-based prediction markets; allaying coordinating problems through reducing thecost of transactions for side payments; and allowing states and other global governance actorsto make more credible commitments given guaranteed execution of blockchain-enabled smartcontracts. By empowering local knowledge holders and non-state actors that traditionallylacked the means to coordinate efforts to influence global politics, blockchain technology alsopromises to advance an international order based on liberal values. In actuality, however,emerging blockchain-based global governance systems will fall short of the libertarian idealof ‘fully-automated liberalism’ as their design and operation will remain under the shadow ofpower. " [end of partial quote]
