Runaway train? Decentralised finance and the myth of the private platform economy
Bibliographic record
Abstract
According to one view, the decentralisation of finance [‘DeFi’] is the next phase in the constitutionalisation of money, while others highlight the actual asymmetry between those who can benefit from the evolving technology and those who find themselves further descending into cycles of debt and self-exploitation. DeFi’s protagonists maintain that a non-hierarchical, access-controlled system of financial transaction, housed in technology rather than in institutions, will lead to universal inclusivity and transparency. Skeptics question DeFi’s alleged autonomy and point to the public nature of money and the financial system – while acknowledging its shortcomings for its most vulnerable users. Contextualising DeFi’s democratisation promise of platform money within broader contemporary contestations of democratic practices and the role of law in them, the paper critically interrogates DeFi’s ability to provide a framework not only for individual financial inclusion but for collective pursuit of transformative, democratic governance of economic and financial transaction.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.002 | 0.003 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.004 | 0.019 |
| Scholarly communication | 0.009 | 0.014 |
| Open science | 0.001 | 0.005 |
| Research integrity | 0.003 | 0.004 |
| Insufficient payload (model declined to judge) | 0.007 | 0.001 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".