Creation of a Blockchain and a New Ecosystem

         
Author Name YANO Makoto (President, RIETI) / Chris DAI (Leland Capital / Longhash Japan) / MASUDA Kenichi (Anderson Mori & Tomotsune) / KISHIMOTO Yoshio (Organization for Small & Medium Enterprises and Regional Innovation, JAPAN)
Creation Date/NO. November 2019 19-P-029
Research Project Evidence-based Policy Study on the Law and Economics of Market Quality
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Abstract

This study points out issues towards a better use of blockchain technology. It first identifies the role of data as the third major productive resources next to labor and capital in the digital economy and explains that block chain technology may facilitate an efficient and fair use of this important production factor. Blockchain technology may fundamentally change the current economy in three respects: (1) Data ownership, (2) money, and (3) data industry.