Decentralizing information technology: the advent of resource based systems

DOI10.1007/978-3-031-15714-1_1zbMATH Open1520.91446arXiv2112.09941OpenAlexW4297818633MaRDI QIDQ6164495FDOQ6164495

Authors: Aggelos Kiayias 

Publication date: 28 July 2023

Published in: Algorithmic Game Theory (Search for Journal in Brave)

Abstract: The growth of the Bitcoin network during the first decade of its operation to a global scale system is a singular event in the deployment of Information Technology systems. Can this approach serve as a wider paradigm for Information Technology services beyond the use case of digital currencies? We investigate this question by introducing the concept of resource based systems and their four fundamental characteristics: (i) resource-based operation, (ii) tokenomics, (iii) decentralized service provision, and (iv) rewards sharing. We explore these characteristics, identify design goals and challenges and investigate some crucial game theoretic aspects of reward sharing that can be decisive for their effective operation.

Full work available at URL: https://arxiv.org/abs/2112.09941

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Mathematics Subject Classification ID

Actuarial science and mathematical finance (91G99) Computational methods for problems pertaining to game theory, economics, and finance (91-08)

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Cited In (3)

• Asset tokenization and related problems
• Technology, Information, and the Decentralization of the Firm
• Blockchain participation games

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