Building the Bitcoin Economy: The Complete Contract Governance Platform

Prateek Goorha & Parabolic Trav

TL;DR: Bitcoin’s overwhelming value proposition is as a complete contract governance platform. As such, its unique transactional properties allow the creation of Bitcoin powered SaaS platforms that fundamentally disrupt many aspects of traditional contract applications, far beyond “smart contracts” alone.

If you have been following the crypto-universe for a few years, you can be excused for feeling that we seem to have lost the plot somewhere along the road. Perhaps, not entirely. But in a very fundamental way we are lost among the trees and have missed the forest.

Our point is this: Bitcoin’s overwhelming value proposition is as a complete contract governance platform. As such, its unique transactional properties allow the creation of Bitcoin powered SaaS platforms that fundamentally disrupt many aspects of traditional contract theory, far beyond “smart contracts” alone.

Bitcoin offers a distinct third alternative to the price mechanism of a free market and the top-down coordination mechanisms of organizations such as firms and institutions. This third alternative is a what we believe will open up an entirely new set of economic orderings: one where the functions of firms and institutions, on…