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Competition

Blockchain and competition policy

 

Blockchain is a general-purpose distributed ledger technology that threatens to disrupt markets and institutions across the world.

Where the internet enabled the publishing and digital transfer of information, blockchain technology authenticates the ownership of assets, makes them traceable, and facilitates their digital transfer. It therefore allows direct trading of assets by providing trust in the transaction and reducing uncertainty (through its use of trustworthy self-executing code). 

Viewed from a competition policy perspective this might create both opportuntities to enhance competition and efficiency and risks of anticompetitive conduct. 

In June 2018, the OECD heard from a range of experts on these opportuntities and risks. See below all available materials. 

 

SEE ALSO

Full list of Competition Policy Roundtables

OECD Handbook on Competition Policy in the Digital Age  

Antitrust and the trust machine 2020

OECD Global Blockchain Policy Forum

Antitrust and the trust machine Cover 150px

Antitrust and the trust machine 2020

This paper considers the risks of anticompetitive behaviour by the blockchain, and sets out a range of possible opportunities that arise from the adoption of the technology.

Access the paper

JUNE 2018 SESSION INFORMATION

 

KEY DOCUMENTS

OECD Issues Paper 

Executive Summary with key findings •  Synthèse des points clés de la discussion

Detailed Summary of the discussion • Compte rendu detaillé de la discussion

 

INVITED SPEAKERS

Isabelle Corbett [Bio] ‌ 
Senior Counsel & Director of Regulatory Affairs, R3

Catherine Mulligan [Bio]  ‌  
Visiting Researcher, Imperial College London and Expert of the World Economic Forum for Blockchain Technologies

Peder Østbye [Bio] 
Special Adviser, Norges Bank

Mark Simpson [Bio] 
Partner, Norton Rose Fulbright 

Thibault Schrepel [Bio] 
Associate Researcher, University of Paris 1 Panthéon-Sorbonne

Ajinkya M Tulpule ‌ 
Senior Legal Counsel, Ferrero

 

FURTHER READING
Related articles, blogs or reports by our invited speakers

Is Blockchain the Death of Antitrust Law?The Blockchain Antitrust Paradox Link to an external site icon

Blockchain will kill the traditional firm by Catherine Mulligan Link to an external site icon

The Adequacy of Competition Policy for Cryptocurrency Markets by Peder Østbye Link to an external site icon

The Case for a 21 Million Bitcoin Conspiracyby Peder Østbye Link to an external site icon

Blockchain: competition issues in nascent markets by Mark Simpson Link to an external site icon

Enforcement and Compliance in a Blockchain(ed) World by Ajinkya Tulpule Link to an external site icon‌    

 

MORE OECD BLOCKCHAIN WORK

OECD Blockchain Primer

OECD Blockchain Policy Forum 2018

The Blockchain Revolution Podcast

In Part 1 of a two-part podcast series, the OECD's Greg Medcraft discusses blockchain, starting with the basics of this revolutionary technology. 

EXPERT VIDEOS

About the discussion 

About the R3 consortium approach

How firms are collaborating in blockchain and concerns on eventual risk of collusions

Risks of exclusionary conduct and what authorities can do about it

The use of traditional antitrust tools against the risks of collusion 

How blockchain may change the way agencies work 

 

For more videos, click here.

 

PRESENTATIONS

 

OTHER ROUNTABLES ON INNOVATION

Rethinking antitrust tools for multi-sided platforms, 2018

Implications of e-commerce for competition policy, 2018

Algorithms and collusion, 2017

Radical Innovation in the electricity sector, 2017

Big Data: Briging competition policy to the digital era, 2016

Disruptive innovation in land transport, 2016

Disruptive innovation in legal services, 2016

Disruptive innovation in financial markets, 2015

Disruptive innovation in competition law enforcement, 2015

Disruptive innovations and their effect on competition, 2015 

RELATED TOPICS AND LINKS 

OECD Handbook on Competition Policy in the Digital Age 

Digital economy, innovation and competition

Abuse of dominance

Cartels and anti-competitive agreements

Competition enforcement practices

Liberalisation and competition intervention in regulated sectors

Mergers

Pro-competitive policy reforms

Access the full list of Competition Policy Roundtables

Link to the  OECD Competition Home Page  

 

Related Documents