Ecosystem development
Syren Johnstone · Edward Elgar Publishing eBooks · 2021
The precursors to the development of a digital ecosystem based around cryptographic consensus technology (CCTech) are considered. The nature of an ecosystem and the relationship of pioneer and secondary species is examined in relation to financial and non-financial iterations of the technology, in particular how this interacts with the current financial narrative. The role of institutional arrangements and supporting legal conditions is discussed. Developments at different technical, societal and regulatory levels of the technology are relevant to ecosystem development. Carlotta Perez’s characterization of the irruption of new technologies provides useful insights to the facilitating, and potentially inhibiting, influence of financial iterations of CCTech on the ecosystem. Whether the existing regulatory approach has hampered ecosystem development is queried.