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@ -180,6 +180,8 @@ what type of technology is bitcoin (DOI:[10.2139/ssrn.2811995](http://dx.doi.org
p18 social operating system
p20 stigmergic coordination. governance based on a reputation system. reputation can be gained by either making a value contribution or evaluating someone elses conrtibution that is in line with the organisations value system. agents are judged on their actions and their judgements of others actions
p21
"Blockchain distributed ledger technology is a rare and special general purpose technology because it adds a further category to the suite of Williamson’s (1985) ‘economic institutions of capitalism’—namely, markets, hierarchies and relational contracting—with a new type of economic order: a Decentralized Collaborative Organization.16 A Decentralized Collaborative Organization (DCO) is a selfgoverning organization with the coordination properties of a market, the governance properties of a commons, and the constitutional properties of a nation state. It is an organization, but it is not hierarchical. It has the coordination properties of a market through the token systems that coordinate distributed action, but it is not a market because the predominant activity is production, not exchange. And it has the unanimous constitutional properties of a rule-of-law governed nation state, by complicit agreement of all ‘citizens’ who opt-in to such a DCO, and the automatic execution of the rules of that DCO through smart contract enforcement"