A Perspective on Blockchain Smart Contracts: Reducing Uncertainty and Complexity in Value Exchange
A Perspective on Blockchain Smart Contracts: Reducing Uncertainty and Complexity in Value Exchange
The blockchain constitutes a technology-based, rather than social or regulation based, means to lower uncertainty about one another in order to exchange value. However, its use may very well also lead to increased complexity resulting from having to subsume work that displaced intermediary institutions had performed. We present our perspective …