Polycentric Law & Cryptocurrency

I'd like to present an explanation of polycentric law and how cryptocurrency can enable more efficient legal systems. Today's judicial systems lack price discovery for the voluntary publication and citation of judicial outcomes. Publication and dissemination of judicial outcomes, like many public goods, suffers from the free rider problem: wherein producers of the public good (precedents) are not compensated by those consuming it. Judicial outcomes and their publication have long been primarily the domain of the state; however, innovations in cryptocurrency and blockchain technology now give anyone the ability to fund the publication and citation of precedential matters, thereby generating consistent, transparent, decentralized, and voluntary polycentric common law.

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Henry

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