The purpose of this paper is to examine the institutional context of the entrepreneurial discovery of blockchain applications.,This paper draws on institutional and entrepreneurial theory to introduce the economic problem entrepreneurship in the early stages of new technologies, examines the diversity of self-governed hybrid solutions to coordinating entrepreneurial information and draws policy implications.,To perceive a valuable and actionable market opportunity, entrepreneurs must coordinate distributed non-price information under uncertainty with others. One potential class of transaction cost economising solution to this problem is private self-governance of information coordination within hybrids. This paper explores a diverse range of entrepreneurial hybrids coalescing around blockchain technology, with implications for innovation policy.,This paper points to the problem of how the defining of the innovation problem as either choice-theoretic or contract-theoretic changes the remit of innovation policy. Innovation policy and blockchain policy should extend beyond correcting sub-optimal investments or removing barriers to action, to incorporate how polices impact entrepreneurial choices over governance structures to coordinate information.

中文翻译：

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治理区块链应用的创业发现

本文的目的是研究区块链应用企业家发现的制度背景。，本文借鉴制度和企业家理论，介绍了新技术早期的经济问题企业家精神，研究了自治的混合动力的多样性。解决方案，以协调企业家信息并得出政策含义。为了感知有价值的和可操作的市场机会，企业家必须在不确定性下与他人协调分配的非价格信息。解决此问题的一种潜在的交易成本节约解决方案是混合内部信息协调的私人自治。本文探讨了围绕区块链技术融合的各种企业家混合动力，对创新政策有影响。本文指出了如何将创新问题定义为选择理论或合同理论如何改变创新政策的职权范围的问题。创新政策和区块链政策应不仅限于纠正次优投资或消除行动壁垒，还应考虑政策如何影响企业对治理结构的选择，以协调信息。