A Progressive Web3: From Social Coproduction to Digital Polycentric Governance

Abstract

This paper critically evaluates the political economy of Web3 and offers a neo-institutional model to explain qualitative observations of contemporary digital social movements. By starting to develop a sociological model of Web3 rooted in micro-organizational practices, including trust mediation and social coproduction, this paper re-evaluates assumptions of scarcity, economic value, and social belonging. It concludes by introducing a novel research program to study digital polycentric governance that focuses on community self-governance of digital common pool resources (DCPRs) and looks forward to empirical research using on-chain datasets from decentralized autonomous organizations (DAOs).

Citation

DuPont, Q. (2024), "A Progressive Web3: From Social Coproduction to Digital Polycentric Governance", DuPont, Q., Kavanagh, D. and Dylan-Ennis, P. (Ed.) Defining Web3: A Guide to the New Cultural Economy (Research in the Sociology of Organizations, Vol. 89), Emerald Publishing Limited, Leeds, pp. 57-74. https://doi.org/10.1108/S0733-558X20240000089005