Sep 28, 2022 - Web 3 is a set of technologies that combine into new classes of digital services. Web 1 refers to the read-only Internet (1980s–early 2000s) where most users consumed content like encyclopedia entries, directories, and catalogs. Web 2 refers to the read-write Internet (early 2000s–2020) with many killer apps like Google search and Facebook for finding, collaborating, and transacting with each other online. Web 3 is the read-write-own Internet (2020–today), based on blockchain protocols that support online privacy, self-sovereign identity, and property rights to digital assets.

Apr 30, 2018 - This research surveys the global landscape of regulatory frameworks, statements, and decisions, on blockchain-based token sales in the jurisdictions of the United States, Canada, Singapore, China, France, Germany, Italy, Estonia, Switzerland, and Gibraltar, with commentary on Malaysia, South Korea, Israel, Russia, Australia, New Zealand, and the United Arab Emirates. Its expert authors look at initial coin offerings and compare how different regulators are categorizing token sales in their attempts to balance the protection of investors with the stimulus of innovat...

Feb 09, 2021 - This research project surveys what federal governments can do to exploit the next era of technology across their operations, within their economies and society, and with their allies and global partners. It focuses on the threats and opportunities facing the United States—including China’s increasing dominance in global supply chains and strategic innovation. It also speaks to challenges the new administration faces, and recommends five areas for immediate action: securing digital systems, citizen identities, and personal data; embracing cryptocurrencies and launching a digital dollar; transforming government services and culture; engagin...

May 10, 2018 - In this research project, Joel Telpner gives us a guided tour of regulatory risk. Pulling lessons from regulating innovation in telecommunications and the financial markets, he focuses on the extent to which the blockchain represents unprecedented regulatory challenges. He advocates a level-headed approach to determining when regulation is necessary and, in such cases, the form that regulation should take, so as to minimize the unintended consequences. Using illustrations by the legendary political cartoonist John Tenniel and passages from Lewis Carroll’s Through the Looking Glass: and What Alice Found There, Telpner gives executiv...

Aug 30, 2019 - This project explores a type of cryptoasset, the non-fungible token (NFT), or what we call the crypto collectible. It explains the concept of the NFT and illustrates how it works through the best-known NFTs, CryptoKitties, a phenomenon of an asset within the Ethereum-based CryptoKitties game. It revealed how businesses might create and use digitally unique and scarce assets beyond cryptocurrencies in their business models. The project also covers the online gaming market—both packaged software and downloadable content—and describes how companies might tokenize their intangible and physical assets.

Jan 16, 2018 - This manifesto for change calls for a new social contract, one that redefines the relationship between individuals in society and the institutions they have created to self-govern. It looks at the four drivers of this change—the Fourth Industrial Revolution, globalization of ideas and the economy, climate change, and demographic shifts due to war, drought, and oppression. It identifies such global disruptions as structural unemployment and inequality; failing education, healthcare, and research and development; human rights violations; and a biosphere in crisis. It identifies the four core change makers—the private sector, the state, civi...