Catalini, Christian; S. Gans, Joshua. “Some Simple Economics of the Blockchain”. NBER Working Paper No. 22952, 2016. http://www.nber.org/papers/w22952
GPT3 Generated Summary:
The paper discusses the economic implications of blockchain technology, including the potential for reducing transaction costs, creating new markets, and improving transparency and security. The authors argue that blockchain technology has the potential to disrupt many industries and create new business models. The paper provides an overview of the basic economic concepts relevant to blockchain technology, such as network effects, transaction costs, and incentives. The authors also discuss the potential challenges and limitations of blockchain technology, such as scalability, governance, and regulation. Overall, the paper provides a useful introduction to the economic principles underlying blockchain technology.