Antitrust in the Decentralized Economy

Abstract

Abstract Chapter 1 introduces the decentralized economy as an umbrella term that encompasses economic activities that rely on blockchain and distributed ledgers, and can be as diverse as virtual assets, fintech, metaverse, decentralized finance, and central bank digital currencies. It explains why antitrust and competition law apply in such markets, and it presents the special features of the decentralized economy for antitrust purposes: (a) the decentralized nature of DLT products, services, and markets; (b) the prevalence of social production; (c) the role of governance; and (d) the role of tokenomics.