Democratizing effects of digital ledger technologies: Implications for economic mobility
There is a large body of empirical and theoretical literature on the effects of technological change on individuals, labor markets, and overall economic activity. Theories of skill-biased technical change (SBTC) suggest that technology increases the earnings power of skilled workers, but substitutes...
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| Format: | Article |
| Language: | English |
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Frontiers Media S.A.
2023-03-01
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| Series: | Frontiers in Blockchain |
| Subjects: | |
| Online Access: | https://www.frontiersin.org/articles/10.3389/fbloc.2023.972183/full |
| _version_ | 1811157853613850624 |
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| author | Christos A. Makridis Christos A. Makridis Christos A. Makridis Gordon Y. Liao |
| author_facet | Christos A. Makridis Christos A. Makridis Christos A. Makridis Gordon Y. Liao |
| author_sort | Christos A. Makridis |
| collection | DOAJ |
| description | There is a large body of empirical and theoretical literature on the effects of technological change on individuals, labor markets, and overall economic activity. Theories of skill-biased technical change (SBTC) suggest that technology increases the earnings power of skilled workers, but substitutes for less skilled workers. Distributed ledger technologies (DLTs) provide a new context for examining and understanding the impact of technology change on labor, competition, and economic outcomes. This paper explores the theoretical frameworks through which DLTs could enhance economic mobility and provides examples from several areas, including: i) the creation of new jobs and higher value-added jobs, and the modularization of complex tasks; ii) improvements in the way people learn and acquire human capital; iii) increased competition in the marketplace; and iv) more inclusive access to financial services with fewer intermediaries. |
| first_indexed | 2024-04-10T05:13:23Z |
| format | Article |
| id | doaj.art-0cab4beca4f44f59b3ed7f75456aa60b |
| institution | Directory Open Access Journal |
| issn | 2624-7852 |
| language | English |
| last_indexed | 2024-04-10T05:13:23Z |
| publishDate | 2023-03-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Blockchain |
| spelling | doaj.art-0cab4beca4f44f59b3ed7f75456aa60b2023-03-09T04:35:14ZengFrontiers Media S.A.Frontiers in Blockchain2624-78522023-03-01610.3389/fbloc.2023.972183972183Democratizing effects of digital ledger technologies: Implications for economic mobilityChristos A. Makridis0Christos A. Makridis1Christos A. Makridis2Gordon Y. Liao3Arizona State University, Tempe, AZ, United StatesStanford University, Stanford, CA, United StatesColumbia Business School, Columbia University, New York City, NY, United StatesCircle Internet Financial, Boston, MA, United StatesThere is a large body of empirical and theoretical literature on the effects of technological change on individuals, labor markets, and overall economic activity. Theories of skill-biased technical change (SBTC) suggest that technology increases the earnings power of skilled workers, but substitutes for less skilled workers. Distributed ledger technologies (DLTs) provide a new context for examining and understanding the impact of technology change on labor, competition, and economic outcomes. This paper explores the theoretical frameworks through which DLTs could enhance economic mobility and provides examples from several areas, including: i) the creation of new jobs and higher value-added jobs, and the modularization of complex tasks; ii) improvements in the way people learn and acquire human capital; iii) increased competition in the marketplace; and iv) more inclusive access to financial services with fewer intermediaries.https://www.frontiersin.org/articles/10.3389/fbloc.2023.972183/fullblockchaindistributed ledger technologieseconomic mobilityinequalitylabor markets |
| spellingShingle | Christos A. Makridis Christos A. Makridis Christos A. Makridis Gordon Y. Liao Democratizing effects of digital ledger technologies: Implications for economic mobility Frontiers in Blockchain blockchain distributed ledger technologies economic mobility inequality labor markets |
| title | Democratizing effects of digital ledger technologies: Implications for economic mobility |
| title_full | Democratizing effects of digital ledger technologies: Implications for economic mobility |
| title_fullStr | Democratizing effects of digital ledger technologies: Implications for economic mobility |
| title_full_unstemmed | Democratizing effects of digital ledger technologies: Implications for economic mobility |
| title_short | Democratizing effects of digital ledger technologies: Implications for economic mobility |
| title_sort | democratizing effects of digital ledger technologies implications for economic mobility |
| topic | blockchain distributed ledger technologies economic mobility inequality labor markets |
| url | https://www.frontiersin.org/articles/10.3389/fbloc.2023.972183/full |
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