This book focuses on the building of a crypto economy as an alternative
economic space and discusses how the crypto economy should be governed.
The crypto economy is examined in its productive and financialised
aspects, in order to distil the need for governance in this economic
space.
The author argues that it is imperative for regulatory policy to develop
the economic governance of the blockchain-based business model, in order
to facilitate economic mobilisation and wealth creation. The regulatory
framework should cater for a new and unique enterprise organisational
law and the fund-raising and financing of blockchain-based development
projects. Such a regulatory framework is crucially enabling in nature
and consistent with the tenets of regulatory capitalism.
Further, the book acknowledges the rising importance of private monetary
orders in the crypto economy and native payment systems that do not rely
on conventional institutions for value transfer. A regulatory blueprint
is proposed for governing such monetary orders as 'commons' governance.
The rise of Decentralised Finance and other financial innovations in the
crypto economy are also discussed, and the book suggests a framework for
regulatory consideration in this dynamic landscape in order to meet a
balance of public interest objectives and private interests.
By setting out a reform agenda in relation to economic and financial
governance in the crypto economy, this forward-looking work argues for
the extension of 'regulatory capitalism' to this perceived 'wild west'
of an alternative economic space. It advances the message that an
innovative regulatory agenda is needed to account for the economically
disruptive and technologically transformative developments brought about
by the crypto economy.
