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Data money: The socio-technical infrastructure of cryptocurrency blockchains

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Abstract Drawing on an empirical study of cryptocurrency white papers, this paper proposes an actor-based taxonomy of cryptocurrency blockchains. First, it describes the evolution of blockchain architecture with reference to… Click to show full abstract

Abstract Drawing on an empirical study of cryptocurrency white papers, this paper proposes an actor-based taxonomy of cryptocurrency blockchains. First, it describes the evolution of blockchain architecture with reference to the economic services that blockchains supply. Second, it discusses the socio-technical platform of blockchains as proposed in cryptocurrency white papers. Third, it analyses the socio-economic consequences of these technically diverse blockchain platforms, by proposing a taxonomy of their digital architectures in reference to two groups of actors that maintain blockchain infrastructure: transactioners and accountants. Defining cryptocurrency as data money, and locating cryptocurrency ownership as the possession of an exclusive right to move data privately in a public or private space, the paper describes a blockchain as a digital actor-network platform that makes it possible to define and distribute these data transfer rights.

Keywords: cryptocurrency blockchains; infrastructure; socio technical; cryptocurrency; data money

Journal Title: Economy and Society
Year Published: 2020

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