Vili Lehdonvirta's guest appearances

Vili Lehdonvirta

New Books in Economics

New Books in Technology

New Books Network

The Rational Reminder Podcast

Leslie M. Harris

Andrew Flachs

Carla Diana

Phillipa Chong

Kartik Hosanagar

David Wolman

Tim Anderson

K. Linder

Joel Waldfogel

Brian Greene

Diane Coyle

Margaret Heffernan

Christian Fuchs

Edward Castronova

J. Neuhaus

OwlTail

Today, we speak to Vili Lehdonvirta, Professor of Economics, Sociology, and Digital Social Research at the Oxford Internet Institute at the University of Oxford. Professor Lehdonvirta is a social scientist whose research focuses on ways digital technologies are reshaping the organization of economies, including their associated social effects. He is also the author of two books, Cloud Empires and Virtual Economies, which provide readers with an in-depth look into the power that crypto platforms hold and a well-rounded characterization of digital markets. In this episode, we talk about the ideological underpinnings of crypto and the role of governance in making cryptocurrencies possible. We discuss the role of states in scaling markets, how states and platform companies differ, the impacts of smart contracts on governance issues, and how control and power are centralized within crypto markets, as well as the social implications of blockchain technology. Listeners will also learn about past controversies within the crypto space, why people are still needed within crypto, and the blockchain paradox, plus more!   Key Points From This Episode:    We start by learning about John Perry Barlow’s vision for cyberspace. [0:05:06] Find out about the role that states play in markets. [0:07:03] How markets function at scale if the state is not involved. [0:07:55] Professor Lehdonvirta’s view on whether governance may precede markets. [0:08:59] The role massive platform companies play in today’s economy. [0:09:44] Ways in which states and platform companies differ. [0:10:42] Why he thinks public blockchain technology has garnered so much attention. [0:11:27] An explanation of the influence John Perry Barlow’s vision had on cryptocurrencies. [0:13:04] Learn what a Kleroterion is and the role it played in Athenian democracy. [0:14:01] Professor Lehdonvirta shares what it means to ‘trust in the code.’ [0:17:05] An outline of the new properties smart contracts created. [0:18:59] Social and economic implications of unstoppable censorship-resistant contracts. [0:21:08] A brief rundown of how impactful smart contracts have been. [0:22:27] How the trustless and unstoppable claims of cryptocurrencies and DAOs were affected by the DAO story. [0:24:20] Whether the Bitcoin block-size conflict affected the perception of crypto as a trustless system. [0:28:17] We find out the current size of the Bitcoin development team. [0:31:05] Other examples of human discretion affecting the direction of Bitcoin. [0:31:46] Professor Lehdonvirta explains the strategies used to preserve trustlessness after the human interventions took place. [0:35:16] Details about an important strategy: the appeal to technical expertise. [0:38:53] Find out if the ability to fork blockchain networks restores trustless claims of crypto. [0:39:42] Whether users of a blockchain network, who are not miners, can influence crypto markets. [0:45:02] Professor Lehdonvirta’s opinion on who has the most control over cryptocurrency networks. [0:49:35] Hear what aspect of Athenian democracy Nakamoto failed to replicate. [0:54:26] We learn what the blockchain paradox is (also known as the governance paradox). [0:56:50] Find out if Professor Lehdonvirta thinks technology changes the fundamental aspects which shape how societies are organized. [01:00:11] Find out if blockchain has eliminated the need for nation-states. [01:02:11] What cryptocurrencies have accomplished since their inception. [01:03:40] 

Today, we speak to Vili Lehdonvirta, Professor of Economics, Sociology, and Digital Social Research at the Oxford Internet Institute at the University of Oxford. Professor Lehdonvirta is a social scientist whose research focuses on ways digital technologies are reshaping the organization of economies, including their associated social effects. He is also the author of two books, Cloud Empires and Virtual Economies, which provide readers with an in-depth look into the power that crypto platforms hold and a well-rounded characterization of digital markets. In this episode, we talk about the ideological underpinnings of crypto and the role of governance in making cryptocurrencies possible. We discuss the role of states in scaling markets, how states and platform companies differ, the impacts of smart contracts on governance issues, and how control and power are centralized within crypto markets, as well as the social implications of blockchain technology. Listeners will also learn about past controversies within the crypto space, why people are still needed within crypto, and the blockchain paradox, plus more! Key Points From This Episode: <ul> <li>We start by learning about John Perry Barlow’s vision for cyberspace. [0:05:06]</li> <li>Find out about the role that states play in markets. [0:07:03]</li> <li>How markets function at scale if the state is not involved. [0:07:55]</li> <li>Professor Lehdonvirta’s view on whether governance may precede markets. [0:08:59]</li> <li>The role massive platform companies play in today’s economy. [0:09:44]</li> <li>Ways in which states and platform companies differ. [0:10:42]</li> <li>Why he thinks public blockchain technology has garnered so much attention. [0:11:27]</li> <li>An explanation of the influence John Perry Barlow’s vision had on cryptocurrencies. [0:13:04]</li> <li>Learn what a Kleroterion is and the role it played in Athenian democracy. [0:14:01]</li> <li>Professor Lehdonvirta shares what it means to ‘trust in the code.’ [0:17:05]</li> <li>An outline of the new properties smart contracts created. [0:18:59]</li> <li>Social and economic implications of unstoppable censorship-resistant contracts. [0:21:08]</li> <li>A brief rundown of how impactful smart contracts have been. [0:22:27]</li> <li>How the trustless and unstoppable claims of cryptocurrencies and DAOs were affected by the DAO story. [0:24:20]</li> <li>Whether the Bitcoin block-size conflict affected the perception of crypto as a trustless system. [0:28:17]</li> <li>We find out the current size of the Bitcoin development team. [0:31:05]</li> <li>Other examples of human discretion affecting the direction of Bitcoin. [0:31:46]</li> <li>Professor Lehdonvirta explains the strategies used to preserve trustlessness after the human interventions took place. [0:35:16]</li> <li>Details about an important strategy: the appeal to technical expertise. [0:38:53]</li> <li>Find out if the ability to fork blockchain networks restores trustless claims of crypto. [0:39:42]</li> <li>Whether users of a blockchain network, who are not miners, can influence crypto markets. [0:45:02]</li> <li>Professor Lehdonvirta’s opinion on who has the most control over cryptocurrency networks. [0:49:35]</li> <li>Hear what aspect of Athenian democracy Nakamoto failed to replicate. [0:54:26]</li> <li>We learn what the blockchain paradox is (also known as the governance paradox). [0:56:50]</li> <li>Find out if Professor Lehdonvirta thinks technology changes the fundamental aspects which shape how societies are organized. [01:00:11]</li> <li>Find out if blockchain has eliminated the need for nation-states. [01:02:11]</li> <li>What cryptocurrencies have accomplished since their inception. [01:03:40]</li> </ul>

Understanding Crypto 15: Prof. Vili Lehdonvirta: Cryptocracy: The Obfuscation of Power

The continued growth of online gaming and virtual worlds has effects not only in the analog world, with games and social media organizations taking stock options public, but also in the worlds created online. Many games and platforms allow users to involve themselves in virtual labor, to own property, and most importantly to make purchases. This one of areas where the analog and virtual crossover. And the question for platform providers becomes how to capitalize on user interest while earning money. In the new book Virtual Economies: Design and Analysis (MIT 2014), Vili Lehdonvirta, a research fellow at the Oxford Internet Institute, at the University of Oxford and Edward Castronova, professor of communications and cognitive science at Indiana University provide a detailed examination of the underpinnings and motivations for the creation of virtual economies. Lehdonvirta and Castronova consider various international examples to provide a comprehensive look at the markets that continue to be embedded into all kinds of online, and offline, interactions. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/technology

The continued growth of online gaming and virtual worlds has effects not only in the analog world, with games and social media organizations taking stock options public, but also in the worlds created online. Many games and platforms allow users to involve themselves in virtual labor, to own property, and most importantly to make purchases. This one of areas where the analog and virtual crossover. And the question for platform providers becomes how to capitalize on user interest while earning money. In the new book <a href="http://mitpress.mit.edu/books/virtual-economies" rel="nofollow" target="_blank">Virtual Economies: Design and Analysis</a> (MIT 2014), <a href="http://vili.lehdonvirta.com/" rel="nofollow" target="_blank">Vili Lehdonvirta</a>, a research fellow at the Oxford Internet Institute, at the University of Oxford and <a href="http://www.indiana.edu/~telecom/people/faculty/castronova.shtml" rel="nofollow" target="_blank">Edward Castronova</a>, professor of communications and cognitive science at Indiana University provide a detailed examination of the underpinnings and motivations for the creation of virtual economies. Lehdonvirta and Castronova consider various international examples to provide a comprehensive look at the markets that continue to be embedded into all kinds of online, and offline, interactions. Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>Support our show by becoming a premium member! <a href="https://newbooksnetwork.supportingcast.fm/technology" rel="nofollow" target="_blank">https://newbooksnetwork.supportingcast.fm/technology</a>

Vili Lehdonvirta and Edward Castronova, “Virtual Economies: Design and Analysis” (MIT, 2014)

The continued growth of online gaming and virtual worlds has effects not only in the analog world, with games and social media organizations taking stock options public, but also in the worlds created online. Many games and platforms allow users to involve themselves in virtual labor, to own property, and most importantly to make purchases. This one of areas where the analog and virtual crossover. And the question for platform providers becomes how to capitalize on user interest while earning money. In the new book Virtual Economies: Design and Analysis (MIT 2014), Vili Lehdonvirta, a research fellow at the Oxford Internet Institute, at the University of Oxford and Edward Castronova, professor of communications and cognitive science at Indiana University provide a detailed examination of the underpinnings and motivations for the creation of virtual economies. Lehdonvirta and Castronova consider various international examples to provide a comprehensive look at the markets that continue to be embedded into all kinds of online, and offline, interactions. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The continued growth of online gaming and virtual worlds has effects not only in the analog world, with games and social media organizations taking stock options public, but also in the worlds created online. Many games and platforms allow users to involve themselves in virtual labor, to own property, and most importantly to make purchases. This one of areas where the analog and virtual crossover. And the question for platform providers becomes how to capitalize on user interest while earning money. In the new book <a href="http://mitpress.mit.edu/books/virtual-economies" rel="nofollow" target="_blank">Virtual Economies: Design and Analysis</a> (MIT 2014), <a href="http://vili.lehdonvirta.com/" rel="nofollow" target="_blank">Vili Lehdonvirta</a>, a research fellow at the Oxford Internet Institute, at the University of Oxford and <a href="http://www.indiana.edu/~telecom/people/faculty/castronova.shtml" rel="nofollow" target="_blank">Edward Castronova</a>, professor of communications and cognitive science at Indiana University provide a detailed examination of the underpinnings and motivations for the creation of virtual economies. Lehdonvirta and Castronova consider various international examples to provide a comprehensive look at the markets that continue to be embedded into all kinds of online, and offline, interactions. Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>Support our show by becoming a premium member! <a href="https://newbooksnetwork.supportingcast.fm/economics" rel="nofollow" target="_blank">https://newbooksnetwork.supportingcast.fm/economics</a>