September 27, 2016

Comment in NZZ

Today, Neue Zürcher Zeitung published my comment about the blockchain as an opportunity for Swiss finance.

In that comment, I argue that blockchain technologies can only be successful if there are ways to legally link entries in the blockchain with the remaining reality. For example, the shares of distributed autonomous organizations should also be legally recognized as such if it fulfills the formal requirements such as having a board and so on. I further argue that the first country (ideally Switzerland) that makes it actually feasible to create real, legally recognized companies on the blockchain might gain a deciding advantage as a hub for blockchain technologies.

“In using systems of adaptive agents to create a ’guess’, we are counting on the tendencies of these systems of adaptive agents, as plodding as they are, eventually to find their ways to equilibria that we economists (who, after all, made up the model!) have difficulty finding.”
Thomas Sargent in 'Bounded Rationality in Macroeconomics'