Decentralization – Why We Need Technology Infrastructure Upgrades
Wulf A. Kaal · 2021
The article shows that the technological precursors of decentralization require a reexamination of technological infrastructure for decentralized systems. Highlighting the past and present events in technology development that helped usher in the age of decentralization, the article examines the role of technology-based networking in the evolution of decentralization. The evolution of increased networking captabilities had real economic consequences. Platform business proliferation, the API economy, the sharing economy, and the network information economy are key examples. Similar economic consequences can be expected in the aftermath of the decentralized technology infrastructure evolution. The article concludes with a discussion of decentralized technology infrastructure upgrades that enable the evolving age of technology and societal decentralization. Key Words: Decentralization, History, Digital Assets, Decentralized Finance, Blockchain, Start-up, Decentralized Commerce, Emerging Technology, Token Models, Incentive Design, Tokens, Distributed Ledger Technology, Decentralized Infrastructure JEL Categories: K20, K23, K32, L43, L5, O31, O32 ** Professor of Law, University of St. Thomas School of Law (Minneapolis, USA). The author is gratefull for ongoing discussions about decentralized technology solutions with Craig Calcaterra. The author is also grateful for outstanding research assistance from Hayley Howe and research librarian assistance from Nicole Kinn. The author did not receive any form of financial incentive for authoring this article. 1 Electronic copy available at: https://ssrn.com/abstract=3808859 DECENTRALIZATION – WHY WE NEED TECHNOLOGY INFRASTRUCTURE UPGRADES
Cite: Wulf A. Kaal, Decentralization – Why We Need Technology Infrastructure Upgrades (2021). SSRN: https://ssrn.com/abstract=3808859. https://doi.org/10.2139/ssrn.3808859
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