Blockchain Technology as an Institution of Property

Metaphilosophy 48 (5):666-686 (2017)
Download Edit this record How to cite View on PhilPapers
This paper argues that the practical implementation of blockchain technology can be considered an institution of property similar to legal institutions. Invoking Penner's theory of property and Hegel's system of property rights, and using the example of bitcoin, it is possible to demonstrate that blockchain effectively implements all necessary and sufficient criteria for property without reliance on legal means. Blockchains eliminate the need for a third-party authority to enforce exclusion rights, and provide a system of universal access to knowledge and discoverability about the property rights of all participants and how the system functions. The implications of these findings are that traditional property relations in society could be replaced by or supplemented with blockchain models, and implemented in new domains.
PhilPapers/Archive ID
Upload history
First archival date: 2017-12-12
Latest version: 3 (2018-02-04)
View other versions
Added to PP index

Total views
549 ( #11,758 of 65,546 )

Recent downloads (6 months)
70 ( #10,790 of 65,546 )

How can I increase my downloads?

Downloads since first upload
This graph includes both downloads from PhilArchive and clicks on external links on PhilPapers.