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"In The Nature Of The Future: Dispatches From The Socialstructed World, Marina Gorbis argues we are moving away from the depersonalized world of institutional production toward a new economy built on social connections and rewards--a process she calls socialstructing. Along with the exciting opportunities to create new kinds of social organizations--systems for producing not merely goods but also meaning, purpose, and greater good--there is a possibility that this form of creation will bring new challenges, new inequities, and new opportunities for abuse. We need to understand the potential disadvantages of socialstructing as well, if we are to minimize the potential pitfalls. The following is an excerpt from the book, available April 9."

"In the last few months, there has been a great amount of interest into the area of using Bitcoin-like blockchains - the mechanism that allows for the entire world to agree on the state of a public ownership database - for more than just money. Commonly cited applications include using on-blockchain digital assets to represent custom currencies and financial instruments ("colored coins"), "smart property" devices such as cars which track a colored coin on a blockchain to determine their present legitimate owner, as well as more advanced applications such as decentralized exchange, financial derivatives, peer-to-peer gambling and on-blockchain identity and reputation systems. Perhaps the most ambitious of all cited applications is the concept of autonomous agents or decentralized autonomous organizations (DAOs) - autonomous entities that operate on the blockchain without any central control whatsoever, eschewing all dependence on legal contracts and organizational bylaws in favor of having resources and funds autonomously managed by a self-enforcing smart contract on a cryptographic blockchain."

"Imagine a corporation that engages in economic activity without guidance or direction from humans. Programmed with a mission statement-maximize profit for shareholders from the sale of widgets, for example-the corporation could own capital, enter contracts, and employ robots. People could even be hired for more creative tasks. Such an entity would live on the Internet, distributed across thousands or millions of nodes (stakeholders who host the DAC on their computer). DACs hold the potential to reduce friction in many markets, allowing for instantaneous, trust-less business transactions across the globe. Near-term applications of the DACs concept include peer-to-peer bond and stock trading, verifiable-yet-anonymous voting, and decentralised currency exchange. A DAC also wouldn't have to employ a board of directors, and a CEO's hefty pay cheque could be returned to shareholders in the form of dividends."