Two Sides of the Same Coin: Innovation and Regulation Across the Cryptoscape

Abstract

This thesis offers a glimpse into the world of blockchain technology through an ethnographic study of blockchain communities in New York City. Through conversations with software developers, artists, and cryptocurrency investors, I explore the growing tensions between innovators and regulators as blockchain technology evolves beyond its original purpose. Blockchain advocates yearn for the freedom to explore the potentials of blockchain technology while regulators worry that blockchain companies present an open invitation to criminal activity and fraudulent schemes. Amidst this chaos of establishing blockchain’s legitimacy, blockchain enthusiasts evoke the values of freedom and trust to establish the essence of a community. Finally, in this thesis, I highlight how my interlocutors have been working hard to project their visions of a blockchain future into reality. In some of these futures, blockchain technology serves as the underlying infrastructure for entire social worlds–from voting systems to supply chains.