Category

Blockchain

A dialogue between Darwin and a blockchain

One day, Darwin encountered a young public permissionless blockchain. Here is the transcript of their conversation (all Darwin’s quotes are directly taken from his book, “On the Origin of Species“): Narrator: The blockchain is concerned about not fitting in the existing framework. The blockchain is not a market and is not a firm (see this article)....
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The first case of “blockchain antitrust”: Gallagher v. Bitcointalk.org

We often talk about “history books” as if such things still existed, or mattered. Oh well, for what it’s worth, let me discuss the first (U.S.) case of blockchain antitrust. We long thought United American Corp. v. Bitmain was the one (read). In this case (filed in December 2018), United American Corp. acted against various firms (including those of prominent...
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NEW ARTICLE: “Blockchain Code as Antitrust” (co-authored with Vitalik Buterin)

I am absolutely delighted to let you know about the publication of a new article I co-authored with Vitalik Buterin (co-founder of the Ethereum): “Blockchain Code as Antitrust“. It starts from the following premise: the rule of law does not govern all human interactions. Against this background, one may want to rely on other means to increase...
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Analyzing one decade of blockchain litigation

Blockchain was first introduced by Satoshi Nakamoto with her/his/their article “Bitcoin: A Peer-to-Peer Electronic Cash System” published on October 31, 2008 (although… interestingly enough, Satoshi Nakamoto never used the word “blockchain” in the white paper). Hundreds of millions of transactions have since been implemented on it. This is me being sarcastic on Twitter:   Confirmed #Bitcoin transactions per day....
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Libra: A Concentrate of “Blockchain Antitrust”

Blockchain antitrust is a fascinating subject. The number of cases is rising (I will discuss that shortly), and antitrust agencies are slowly but surely starting to devote resources to the topic. With that in mind, I am delighted to publish my latest article entitled Libra: A Concentrate of “Blockchain Antitrust”. This is a short one (10 pages) dealing with a...
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The “Theory of Granularity” in videos

Dear readers, these past few weeks, I have been publishing videos in which I presented and explained the “The Theory of Granularity: A Path for Antitrust in Blockchain Ecosystems” (freely accessible on SSRN). This post puts them all in one place. Thank you for watching. Thibault. *** Video #1: Understanding the theory of the firm as used...
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Video #4: A path for antitrust in blockchain ecosystems

Dear readers, here’s the fourth and final video of the series dealing with “The Theory of Granularity: A Path for Antitrust in Blockchain Ecosystems” (freely accessible on SSRN). I previously showed that antitrust law is based on Ronald Coase’s theory of the firm, that public blockchains escape that theory, and that, accordingly, a new theory is needed. I now want...
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Blockchain-based collusion, NOT algorithmic collusion

I am pleased that my article entitled “The Fundamental Unimportance of Algorithmic Collusion for Antitrust Law” as just been published at the Harvard Journal of Law and Technology website. Here’s the introduction: Antitrust and competition law is subject to increasing polarization, especially regarding Internet giants. Some scholars argue that the tech giants abuse their dominant positions,...
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Video #3: What is the theory of granularity?

Dear readers, following a first video (link) in which I exposed the theory of the firm as used in antitrust law, and a second one (link) in which I explained that, by escaping that theory, public blockchains escape antitrust law, I am pleased to publish a third video today. In it, I explain what the theory of granularity is. It will serve...
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Video #2: Why public blockchains escape antitrust law

Dear readers, following last week’s video (link) in which I exposed the theory of the firm as used in antitrust law, I am discussing today the reason, by escaping that theory, public blockchains escape antitrust law. Again, for more information, you may read my article entitled “The Theory of Granularity: A Path for Antitrust in Blockchain Ecosystems“(freely accessible on SSRN)....
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