Blockchain networks tend to support principles, like open access and permissionless use, that should be familiar to proponents of the early internet. To protect this vision from political pressure and regulatory interference, blockchain networks rely on a decentralized infrastructure that can’t be controlled by any one person or group. Unlike political regulation, blockchain governance is not emergent from the community. Rather, it is ex ante, encoded in the protocols and processes as an integral part of the original network architecture. To be a part of a community supporting a blockchain is to accept the rules of the network as they were originally established.
Who Controls the Blockchain?
Blockchain networks tend to support principles like open access and permissionless use that should be familiar to proponents of the early internet. To protect this vision of open and permissionless transactions from political pressure and regulatory interference, blockchain networks rely on a decentralized infrastructure that’s not controllable by any one person or group. Unlike political regulation, blockchain governance is not emergent from the community. Rather it is ex-ante, encoded in the protocols and processes as an integral part of the original network architecture. To be a part of a community supporting a blockchain is to accept the rules of the network as they were originally established. But what happens when disputes inevitably arise? Just just how immutable are blockchain ledger entries if the network becomes politicized? As it turns out, not very.