Why does the software business give us lower quality than we demand? Can new market mechanisms make it work better?
Both software users and software developers prefer a high quality level. Users, and the people whose information is managed by software, pay the $1.1 trillion cost of buggy software. Meanwhile, the software business is incentivized to release software at a low quality level, in order to build network effects. Can new market mechanisms help? We'll talk about possibilities for some of the market designs that are becoming feasible thanks to blockchain and smart contracts technologies--including a futures market that trades directly on the status of software bugs, and new reputation metrics for evaluating software quality.