Abstract

The moral significance of blockchain technologies is a highly debated and polarised topic, ranging from accusations that cryptocurrencies are tools serving only nefarious purposes such as cybercrime and money laundering, to the assessment of blockchain technology as an enabler for revolutionary positive social transformations of all kinds. Such technological determinism, however, hardly provides insights of sufficient depth on the moral significance of blockchain technology. This thesis argues rather, that very much like the cryptographic tools before them, blockchains develop in a constant feedback loop. Blockchain applications are driven by values, normative assumptions, and personal commitments of researchers, which shape moral effects of technology. At the same time these very assumption are often embedded in preexisting moral conception and ethical theories, implicitly or explicitly accepted by blockchain developers. And just as the introduction of one flawed element in the cryptographic application can have mass scale effects, the introduction of flawed normative assumptions can have far reaching consequences in blockchain applications. This thesis argues that we should not take normative assumptions present in blockchain applications as given. Just like the open-source code is developed through the public revision and scrutiny, we should aim to make normative assumptions transparent and be ready to revise them in case we find some bugs. How can we qualify claims that blockchain technologies enable new types of institutions? Can blockchain technologies eliminate trust in complex socio-technical systems? What does individual sovereignty mean in the context of private data control and privacy? Whether property in private data enabled by blockchain applications can solve moral issues of privacy and commercial surveillance? Answers to these and other questions map some of the key normative assumptions present in the current blockchain applications and serve as a contribution to the open-source project of the future society built on the fundamental human values.