Blockchains for the Governance of Common Goods

Abstract

This paper analyses the use of blockchain technology to support the governance of commons-pool resources, as studied by Elinor Ostrom. It argues that the technological guarantees of blockchain technology---in terms of ex-ante automation and ex-post verification---can replace the traditional requirements of monitoring and sanctioning. Despite its own limitations and challenges, this novel approach to governance could provide new opportunities for experimentation in the context of commons-pool resources.