‘Blockchain for good’: Exploring the notion of social good inside the blockchain scene

Abstract

One of the most intriguing discussions concerning blockchain technology revolves around its potential to ‘do good’. Consequently, numerous projects and institutions are showing interest in the capacity of blockchain to impact the social sphere positively. However, so far, very little literature has addressed the fundamental notion of ‘good’ that underlies its implementation or explores its connection to social justice theories. This article aims to analyse the narratives that surround the use of blockchain for social good and to compare them with traditional concepts that are significant in social justice theories, such as distribution and recognition. Results show that the selected informants involved in the blockchain scene tend to frame social good in rational, mathematical, and often competitive terms. This tendency contributes to the reinforcement of a neoliberal imaginary that neglects to address structural inequalities as relevant issues. Instead, it envisions social justice as an avenue for generating value, enhancing meritocracy, and ensuring technical accountability, echoing Silicon Valley's aspirations to ‘change the world’.