Reinsberg, B. (2020) Fully-automated liberalism? Blockchain technology
   and international cooperation in an anarchic world. International
   Theory, (doi: 10.1017/S1752971920000305)
   [1]http://eprints.gla.ac.uk/217843/7/217843.pdf
   "Fully-automated liberalism? Blockchain technology and international
   cooperation in an anarchic world Bernhard Reinsberg 1, 2 1 – University
   of Glasgow, School of Social and Political Sciences, 40 Bute Gardens,
   Glasgow, G12 8RT, bernhard.reinsberg@glasgow.ac.uk 2 – Centre for
   Business Research, University of Cambridge
   Abstract: A recent wave of scholarship attests that the liberal world
   order is under threat. While there is disagreement about the underlying
   reasons for this diagnosis, there are few attempts to further our
   understanding of how the liberal order can be reinvigorated. This
   article probes the potential of blockchain technology to promote
   international cooperation.
   Blockchain technology is a data structure that enables global
   governance stakeholders to establish decentralized governance systems
   which provide high-powered incentives for enhanced cooperation. By
   outlining the contours of a blockchain-based global governance system
   for climate policy, the article illustrates that blockchain technology
   holds theoretical promise to foster cooperation in three ways:
   leveraging new sources of information through blockchain-based
   prediction markets; allaying coordinating problems through reducing the
   cost of transactions for side payments; and allowing states and other
   global governance actors to make more credible commitments given
   guaranteed execution of blockchain-enabled smart contracts.
   By empowering local knowledge holders and non-state actors that
   traditionally lacked the means to coordinate efforts to influence
   global politics, blockchain technology also promises to advance an
   international order based on liberal values. In actuality, however,
   emerging blockchain-based global governance systems will fall short of
   the libertarian ideal of ‘fully-automated liberalism’ as their design
   and operation will remain under the shadow of power. "
   [end of partial quote]

References

   1. http://eprints.gla.ac.uk/217843/7/217843.pdf