{"id":1209,"date":"2018-10-14T20:15:38","date_gmt":"2018-10-14T11:15:38","guid":{"rendered":"http:\/\/commonstrans.net\/?p=1209"},"modified":"2018-10-14T20:16:19","modified_gmt":"2018-10-14T11:16:19","slug":"%eb%b8%94%eb%a1%9d%ec%b2%b4%ec%9d%b8-%ea%b2%bd%ec%a0%9c-%ec%b4%88%eb%b3%b4%ec%9e%90%eb%a5%bc-%ec%9c%84%ed%95%9c-%ec%a0%9c%eb%8f%84%ec%a0%81-%ed%81%ac%eb%a6%bd%ed%86%a0%ea%b2%bd%ec%a0%9c-%ec%95%88","status":"publish","type":"post","link":"http:\/\/commonstrans.net\/?p=1209","title":{"rendered":"\ube14\ub85d\uccb4\uc778 \uacbd\uc81c : \ucd08\ubcf4\uc790\ub97c \uc704\ud55c \uc81c\ub3c4\uc801 \ud06c\ub9bd\ud1a0\uacbd\uc81c \uc548\ub0b4"},"content":{"rendered":"<hr \/>\n<ul style=\"text-align: justify;\">\n<li>\uc800\uc790\u00a0 :\u00a0\u00a0Chris Berg, Sinclair Davidson, Jason Potts<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_1209_1('footnote_plugin_reference_1209_1_1');\" onkeypress=\"footnote_moveToReference_1209_1('footnote_plugin_reference_1209_1_1');\" ><sup id=\"footnote_plugin_tooltip_1209_1_1\" class=\"footnote_plugin_tooltip_text\">1)<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_1209_1_1\" class=\"footnote_tooltip\">[\uc815\ub9ac\uc790] \uc800\uc790\ub4e4\uc740 \ube14\ub85d\uccb4\uc778 \ud14c\ud06c\ub180\ub85c\uc9c0\uac00 \uc0ac\ud68c, \uacbd\uc81c, \uc815\uce58, \ubc95\uc5d0 \ubbf8\uce58\ub294 \uc601\ud5a5\uc744 \uc5f0\uad6c\ud558\ub294 \uc138\uacc4 \ucd5c\ucd08\uc758 \uc0ac\ud68c\uacfc\ud559\uc5f0\uad6c\uc13c\ud130\uc778 RMIT Blockchain Innovation Hub\uc5d0 \uc18d\ud574 \uc788\ub2e4.<\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_1209_1_1').tooltip({ tip: '#footnote_plugin_tooltip_text_1209_1_1', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script><\/li>\n<li>\uc6d0\ubb38 :\u00a0<a href=\"https:\/\/medium.com\/cryptoeconomics-australia\/the-blockchain-economy-a-beginners-guide-to-institutional-cryptoeconomics-64bf2f2beec4\">&#8220;The Blockchain Economy: A beginner\u2019s guide to institutional cryptoeconomics<\/a><a href=\"https:\/\/medium.com\/cryptoeconomics-australia\/the-blockchain-economy-a-beginners-guide-to-institutional-cryptoeconomics-64bf2f2beec4\">&#8220;<\/a> (2017.09.27)<\/li>\n<li>\ubd84\ub958 : \ub0b4\uc6a9 \uc815\ub9ac<\/li>\n<li>\uc815\ub9ac\uc790 : \uc815\ubc31\uc218\u00a0<\/li>\n<\/ul>\n<hr \/>\n<p class=\"0\" style=\"text-align: justify;\">\ube14\ub85d\uccb4\uc778\uc758 \uc911\uc694\uc131\uc5d0 \ub300\ud55c \ub300\ubd80\ubd84\uc758 \uc124\uba85\uc774 \ube44\ud2b8\ucf54\uc778\uacfc \ud654\ud3d0\uc758 \uc5ed\uc0ac\uc5d0\uc11c \uc2dc\uc791\ud558\ub294\ub370 \ud654\ud3d0\ub294 \ube14\ub85d\uccb4\uc778\uc758 \ucd5c\ucd08\uc758 \uc0ac\uc6a9\uc0ac\ub840\uc77c \ubfd0\uc774\uba70 \uc774\uac83\uc774 \uac00\uc7a5 \uc911\uc694\ud55c \uac83\uc774 \ub420 \uac00\ub2a5\uc131\uc740 \ub0ae\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778\uc740 \ubb34\uc5c7\ubcf4\ub2e4 \ud0c8\uc911\uc2ec\ud654\ub41c,\u00a0\ubd84\uc0b0\ub41c,\u00a0\ub514\uc9c0\ud138 \ud615\ud0dc\uc758\u00a0\uc6d0\uc7a5\uc774\ub2e4.\u00a0\ud68c\uacc4\uc640 \uc5f0\uad00\ub41c \uc6d0\uc7a5\uc774 \ud601\uba85\uc801 \ud14c\ud06c\ub180\ub85c\uc9c0\ub85c \uc11c\uc220\ub418\ub294 \uac83\uc740 \ud76c\ud55c\ud55c \uc77c\uc77c \uc218 \uc788\uc9c0\ub9cc,\u00a0\ube14\ub85d\uccb4\uc778\uc774 \uc911\uc694\ud55c \uac83\uc740 \uc6d0\uc7a5\uc774 \uc911\uc694\ud558\uae30 \ub54c\ubb38\uc774\ub2e4.<\/p>\n<h3 class=\"0\" style=\"text-align: justify;\">\ub298 \uc6d0\uc7a5\uc774 \uc911\uc2ec\uc774\ub2e4<\/h3>\n<p class=\"0\" style=\"text-align: justify;\">\uaddc\uce59\ub4e4\uc5d0 \uc758\ud574 \uad6c\uc870\ud654\ub41c \ub370\uc774\ud130\ub85c \ub2e8\uc21c\ud558\uac8c \uad6c\uc131\ub418\ub294 \uc6d0\uc7a5\uc740 \ud68c\uacc4\uac70\ub798 \uae30\ub85d \uc774\uc0c1\uc758 \uc77c\uc744 \ud55c\ub2e4.\u00a0\uc6b0\ub9ac\ub294\u00a0\uc0ac\uc2e4\uc5d0 \uad00\ud55c\u00a0\ud569\uc758\uac00 \ud544\uc694\ud560 \ub54c\ub9c8\ub2e4 \uc6d0\uc7a5\uc744 \uc0ac\uc6a9\ud55c\ub2e4.\u00a0\uc6d0\uc7a5\uc774 \uadfc\ub300 \uacbd\uc81c\ub97c \ub4b7\ubc1b\uce68\ud558\ub294 \uc0ac\uc2e4\ub4e4\uc744 \uae30\ub85d\ud55c\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\"><strong>\uc6d0\uc7a5\uc740 \uc18c\uc720\uad8c\uc744 \ud655\uc778\ud574\uc900\ub2e4.<\/strong>\u00a0\uc3d8\ud1a0(Hernando de Soto)<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_1209_1('footnote_plugin_reference_1209_1_2');\" onkeypress=\"footnote_moveToReference_1209_1('footnote_plugin_reference_1209_1_2');\" ><sup id=\"footnote_plugin_tooltip_1209_1_2\" class=\"footnote_plugin_tooltip_text\">2)<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_1209_1_2\" class=\"footnote_tooltip\">Hernandde Sotto, The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else, Basic Books, 2007.<\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_1209_1_2').tooltip({ tip: '#footnote_plugin_tooltip_text_1209_1_2', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script>\ub294 \uac00\ub09c\ud55c \uc0ac\ub78c\ub4e4\uc774 \uc6d0\uc7a5\uc5d0\uc11c \ud655\uc778\ub418\uc9c0 \uc54a\uc740 \uc7ac\uc0b0\uc744 \uc18c\uc720\ud560 \ub54c \uc5b4\ub5bb\uac8c \uace0\uc0dd\ud558\ub294\uc9c0\ub97c \uc11c\uc220\ud588\ub2e4.\u00a0\ud68c\uc0ac(firm)\ub294 \ub2e8\uc77c\ud55c \ubaa9\uc801\uc744 \uac00\uc9c4,\u00a0\uc18c\uc720\uad8c\u00b7\uace0\uc6a9\u00b7\uc0dd\uc0b0\uad00\uacc4\uc758 \ub124\ud2b8\uc6cc\ud06c\ub85c\uc11c \ud558\ub098\uc758 \uc6d0\uc7a5\uc774\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\"><strong>\uc6d0\uc7a5\uc740 \uc2e0\ubd84\uc744 \ud655\uc778\ud574\uc900\ub2e4.<\/strong>\u00a0\uc0ac\uc5c5\uccb4\ub4e4\uc740 \uc815\ubd80 \uc6d0\uc7a5\uc5d0 \ub4f1\ub85d\ub41c \uc2e0\ubd84\uc774 \uc788\uc5b4\uc11c \uadf8 \uc874\uc7ac\uc640 \uc870\uc138\ubc95 \uc544\ub798\uc5d0\uc11c\uc758 \uc9c0\uc704\uac00 \ucd94\uc801\ub420 \uc218 \uc788\ub2e4.\u00a0\ud0c4\uc0dd\u00b7\uc0ac\ub9dd\u00b7\uacb0\ud63c\uc758 \ub4f1\ub85d\uc774 \uac1c\uc778\ub4e4\uc758 \uc0b6\uc758 \uc8fc\uc694\ud55c \uc21c\uac04\ub4e4\uc744 \uae30\ub85d\ud558\uba70 \uc774 \uc815\ubcf4\ub97c \uc2e0\ubd84\uc744 \ud655\uc778\ud558\ub294 \ub370 \uc0ac\uc6a9\ud55c\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\"><strong>\uc6d0\uc7a5\uc740 \uc9c0\uc704\ub97c \ud655\uc778\ud574\uc900\ub2e4.<\/strong>\u00a0\uc2dc\ubbfc\uad8c\uc740 \ub204\uac00 \uad6d\ubbfc\uc73c\ub85c\uc11c \uad8c\ub9ac\ub97c \uac00\uc9c0\uace0 \uc788\uace0 \uc758\ubb34\ub97c \uc9c0\ub294\uc9c0\ub97c \uae30\ub85d\ud558\ub294 \uc6d0\uc7a5\uc774\ub2e4.\u00a0\uc120\uac70\uc778\uba85\ubd80\ub3c4 \ud22c\ud45c\uad8c\uc744 \ubd80\uc5ec\ud558\ub294\u00a0(\ud639\uc740 \uc758\ubb34\ud654\ud558\ub294)\u00a0\uc6d0\uc7a5\uc774\ub2e4.\u00a0\uace0\uc6a9\ub3c4 \uace0\uc6a9\ub41c \uc0ac\ub78c\ub4e4\uc5d0\uac8c\uc774 \ub178\ub3d9\uc758 \ubcf4\uc218\uc5d0 \ub300\ud55c \uccad\uad6c\uad8c\uc744 \ubd80\uc5ec\ud558\ub294 \uc6d0\uc7a5\uc774\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\"><strong>\uc6d0\uc7a5\uc740 \uad8c\uc704\ub97c \ud655\uc778\ud574\uc900\ub2e4.<\/strong>\u00a0\uc6d0\uc7a5\uc740 \ub204\uac00 \uad6d\ud68c\uc758\uc6d0\uc11d\uc5d0 \uc549\uc744 \uc218 \uc788\uace0 \ub204\uac00 \uc740\ud589\uacc4\uc88c\uc5d0 \uc811\uadfc\ud560 \uc218 \uc788\uc73c\uba70 \ub204\uac00 \uc544\uc774\ub4e4\uacfc \ud568\uaed8 \uc77c\ud560 \uc218 \uc788\uace0 \ub204\uac00 \uc81c\ud55c\uad6c\uc5ed\uc5d0 \ub4e4\uc5b4\uac08 \uc218 \uc788\ub294\uc9c0\ub97c \ud655\uc778\ud574\uc900\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uac00\uc7a5 \uadfc\ubcf8\uc801\uc778 \uc218\uc900\uc5d0\uc11c \uc6d0\uc7a5\ub4e4\uc740 \uacbd\uc81c\uc801\u00b7\uc0ac\ud68c\uc801 \uad00\uacc4\ub4e4\uc744 \ub9f5\ud551\ud55c\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uc0ac\uc2e4\uc5d0 \uad00\ud55c \ud569\uc758,\u00a0\uc989 \ubb34\uc5c7\uc774 \uc6d0\uc7a5\uc5d0 \uc788\ub294\uc9c0\uc5d0 \ub300\ud55c \ud569\uc758\uc640 \uc6d0\uc7a5\uc774 \uc815\ud655\ud558\ub2e4\ub294 \ubbff\uc74c\uc740 \uc2dc\uc7a5 \uc790\ubcf8\uc8fc\uc758\uc758 \uadfc\ubcf8\uc801\uc778 \ud1a0\ub300\ub4e4 \uac00\uc6b4\ub370 \ud558\ub098\uc774\ub2e4.<\/p>\n<h3 class=\"0\" style=\"text-align: justify;\">\uc18c\uc720,\u00a0\uc810\uc720,\u00a0\uc6d0\uc7a5<\/h3>\n<p class=\"0\" style=\"text-align: justify;\">\uacb0\uc815\uc801\uc774\uc9c0\ub9cc \ub193\uce58\uae30 \uc26c\uc6b4 \uac83\uc774 \uc18c\uc720(ownership)\uc640 \uc810\uc720(possession)\uc758 \uad6c\ubd84\uc774\ub2e4.\u00a0\uc810\uc720\ub294 \uc18c\uc720\ub97c \ud568\ucd95\ud558\uc9c0\ub9cc \uc18c\uc720 \uc790\uccb4\ub294 \uc544\ub2c8\ub2e4.\u00a0\uc5ec\uad8c\uc758 \uc608\ub97c \ub4e4\uba74,\u00a0\ub514\uc9c0\ud138 \uc774\uc804\uc758 \uc138\uacc4\uc5d0\uc11c \uc5ec\ud589\uc790\uac00 \uc18c\uc9c0\ud55c(\uc810\uc720\ud55c)\u00a0\uc5ec\uad8c\uc740 \uadf8\uc758 \uc5ec\ud589\ud560 \uad8c\ub9ac\uc758 \uc18c\uc720\uac00 \uc6d0\uc7a5\uc5d0 \ub4f1\ub85d\ub418\uc5b4 \uc788\uc74c\uc744 \uac00\ub9ac\ud0a8\ub2e4.\u00a0\uc694\uc998\uc758 \uc5ec\uad8c\uc740 \ub2f9\uad6d\uc774 \uc18c\uc720\ub97c \uc9c1\uc811 \ud655\uc778\ud558\ub3c4\ub85d \ud574\uc900\ub2e4.\u00a0\uad00\ub828 \ub2f9\uad6d\uc774 \ub370\uc774\ud130\ubca0\uc774\uc2a4\ub97c \uac80\uc0c9\ud574\uc11c \uc5b4\ub5a4 \uc5ec\ud589\uac1d\uc774 \uc5ec\ud589\uc758 \uc790\uc720\ub97c \uac00\uc9c0\uace0 \uc788\ub294\uc9c0 \uc544\ub2cc\uc9c0\ub97c \ud655\uc778\ud558\ub294 \uac83\uc774\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\ube44\ud2b8\ucf54\uc778\uc774 \ubcf4\uc5ec\uc8fc\uc5c8\ub4ef\uc774\u00a0\ud654\ud3d0\ub3c4 \uc6d0\uc7a5\uc774\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uc740\ud589\uad8c\uc774\ub77c\ub294 \ud1a0\ud070\uc758 \uc810\uc720\ub294 \uace7 \uc18c\uc720\ub97c \uc758\ubbf8\ud55c\ub2e4. 19\uc138\uae30\uc5d0 \uc740\ud589\uad8c\uc758 \uc18c\uc9c0\uc790\ub294 \uadf8 \uc740\ud589\uad8c\uc774 \ub098\ud0c0\ub0b4\ub294 \uac00\uce58\ub97c \uc778\ucd9c\ud560 \uad8c\ub9ac\uac00 \uc788\uc5c8\ub2e4.\u00a0\uc740\ud589\uad8c\ub4e4\uc740 \uadf8\uac83\uc744 \ubc1c\ud589\ud55c \uc740\ud589\uc5d0\uac8c \uc9c1\uc811\uc801 \ucc44\ubb34\uc600\uc73c\uba70 \uc740\ud589 \uc6d0\uc7a5\uc5d0 \uae30\ub85d\ub418\uc5b4 \uc788\uc5c8\ub2e4.\u00a0\uc810\uc720\uac00 \uace7 \uc18c\uc720\ub97c \uac00\ub9ac\ud0a4\ub294 \uccb4\uc81c\ub294 \uc740\ud589\uad8c\ub4e4\uc774 \uc808\ub3c4\ub418\uac70\ub098 \uc704\uc870\ub420 \uac00\ub2a5\uc131\uc774 \uc788\uc74c\uc744 \uc758\ubbf8\ud55c\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uc6b0\ub9ac \uc2dc\ub300\uc758 \ubc95\uc815 \ud1b5\ud654\ub294 \uc911\uc559\uc740\ud589\uc5d0\uc11c \uae08\uc73c\ub85c \uad50\ud658\ubc1b\uc744 \uc218 \uc5c6\ub2e4.\u00a0\uadf8\ub7ec\ub098 \uadf8 \uad00\uacc4\ub294 \ub0a8\uc544\uc788\uc5b4\uc11c,\u00a0\uc9c0\ud3d0\uc758 \uac00\uce58\ub294 \ud1b5\ud654\uc758 \uc548\uc815\uc131\uacfc \uadf8\uac83\uc744 \ubc1c\ud589\ud55c \uc815\ubd80\uc758 \uc548\uc815\uc131\uc5d0 \ub300\ud55c \ud569\uc758\uc5d0 \uc758\uc874\ud55c\ub2e4.\u00a0\uc740\ud589\uad8c\ub4e4\uc740 \ubd80\uac00 \uc544\ub2c8\ub2e4.\u00a0\uc9c0\ud3d0\ub294 \uc6d0\uc7a5\uc5d0 \uc788\ub294 \uad00\uacc4\uc5d0 \ub300\ud55c \uc694\uad6c\uc774\uba70 \uadf8 \uad00\uacc4\uac00 \ubd95\uad34\ud558\uba74 \uc9c0\ud3d0\uc758 \uac00\uce58\ub3c4 \ubd95\uad34\ud55c\ub2e4.\u00a0\uc9d0\ubc14\ube0c\uc6e8,\u00a0\uc720\uace0\uc2ac\ub77c\ube44\uc544,\u00a0\ubc14\uc774\ub9c8\ub974 \uacf5\ud654\uad6d\uc758 \uc0ac\ub840\ub97c \ubcf4\ub77c.<\/p>\n<h3 class=\"0\" style=\"text-align: justify;\">\uc6d0\uc7a5\uc758 \uc9c4\ud654<\/h3>\n<p class=\"0\" style=\"text-align: justify;\">\uadf8 \uc911\uc694\uc131\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0 \uc6d0\uc7a5 \ud14c\ud06c\ub180\ub85c\uc9c0\ub294 \uc9c0\uae08\uae4c\uc9c0 \ubcc4\ub85c \ubcc0\ud654\ub97c \uacaa\uc9c0 \uc54a\uc558\ub2e4.\u00a0\uc6d0\uc7a5\uc740 \ubb38\uc790 \uc18c\ud1b5\uc758 \uc5ec\uba85\uae30\uc5d0 \ub4f1\uc7a5\ud55c\ub2e4.\u00a0\uc6d0\uc7a5\uacfc \uae00\uc4f0\uae30\ub294 \uace0\ub300 \uadfc\ub3d9(\u8fd1\u6771)\uc5d0\uc11c \uc0dd\uc0b0\u00b7\uad50\uc5ed\u00b7\ubd80\ucc44\ub97c \uae30\ub85d\ud558\uae30 \uc704\ud574\uc11c \ub3d9\uc2dc\uc5d0 \ubc1c\uc804\ud588\ub2e4.\u00a0\uc124\ud615\ubb38\uc790\ub97c \ub123\uc5b4 \uad6c\uc6b4 \uc9c4\ud759\ud310\uc774 \uc2dd\ub7c9,\u00a0\uc138\uae08,\u00a0\ub178\ub3d9\uc790\ub4e4 \ub4f1\uc758 \ub2e8\uc704\ub97c \uc138\uc138\ud788 \uae30\ub85d\ud588\ub2e4.\u00a0<a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3016649\"><u>\ubd84\uc0b0\ub41c \uc6d0\uc7a5\ucc98\ub7fc \uae30\ub2a5\ud558\ub294 \ub3d9\ub9f9\ub4e4\uc758 \uad6c\uc870\ud654\ub41c \ub124\ud2b8\uc6cc\ud06c<\/u><\/a>\ub97c \ud1b5\ud574 \ucd5c\ucd08\uc758 \uad6d\uc81c\uc801 \uacf5\ub3d9\uccb4\uac00 \ub9c8\ub828\ub418\uc5c8\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">14\uc138\uae30\uc5d0 \ubcf5\uc2dd\ubd80\uae30(double entry bookkeeping)\uc758 \ubc1c\uba85\uacfc \ud568\uaed8 \uc6d0\uc7a5\uc5d0 \ucd5c\ucd08\uc758 \uc8fc\uc694\ud55c \ubcc0\ud654\uac00 \uc77c\uc5b4\ub0ac\ub2e4.\u00a0\ubcf5\uc2dd\ubd80\uae30\ub294 \ucc28\ubcc0\uacfc \ub300\ubcc0\uc744 \ubaa8\ub450 \uae30\ub85d\ud568\uc73c\ub85c\uc368 \ub2e4\uc218\uc758\u00a0(\ubd84\uc0b0\ub41c)\u00a0\uc6d0\uc7a5\ub4e4\uc744 \uac00\ub85c\uc9c8\ub7ec \ub370\uc774\ud130\ub97c \ubcf4\uc874\ud588\uace0 \uc6d0\uc7a5\ub4e4 \uc0ac\uc774\uc758 \uc815\ubcf4\uc758 \uc870\uc815\uc744 \ud5c8\uc6a9\ud588\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uc6d0\uc7a5 \ud14c\ud06c\ub180\ub85c\uc9c0\uc758 \ub2e4\uc74c \ub2e8\uacc4\ub294\u00a019\uc138\uae30 \ub300\uae30\uc5c5\ub4e4\uacfc \uac70\ub300 \uad00\ub8cc\uc81c\uc758 \ubc1c\uc0dd\uacfc \ud568\uaed8 \uc774\ub8e8\uc5b4\uc84c\ub2e4.\u00a0\uc774 \uc911\uc559\uc9d1\uc911\ud654\ub41c \uc6d0\uc7a5\ub4e4\uc774 \uc870\uc9c1\uc758 \uaddc\ubaa8\uc640 \ubc94\uc704\uc758 \uadf9\uc801\uc778 \uc99d\uac00\ub97c \uac00\ub2a5\ud558\uac8c \ud588\uc73c\ub098 \uc911\uc559\uc9d1\uc911\ud654\ub41c \uae30\uad00\ub4e4\uc5d0 \ub300\ud55c \uc2e0\ub8b0\uc5d0 \uc804\uc801\uc73c\ub85c \uc758\uc874\ud588\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">20\uc138\uae30 \ud6c4\ubc18\uc5d0 \uc6d0\uc7a5\uc740 \uc544\ub0a0\ub85c\uadf8 \ud615\ud0dc\uc5d0\uc11c \ub514\uc9c0\ud138 \ud615\ud0dc\ub85c \uc774\ub3d9\ud588\ub2e4.\u00a0\ud638\uc8fc\uc758 \uc5ec\uad8c\uc740\u00a01970\ub144\ub300\uc5d0 \ub514\uc9c0\ud138\ud654\ub418\uc5c8\uc73c\uba70 \uc911\uc559\uc9d1\uc911\ud654\ub418\uc5c8\ub2e4.\u00a0\uc804\uc0b0 \uac00\ub2a5\ud558\uba70 \uac80\uc0c9 \uac00\ub2a5\ud55c \ub370\uc774\ud130\ubca0\uc774\uc2a4\uac00 \ub354 \ubcf5\uc7a1\ud55c \ubd84\uc0b0,\u00a0\uacc4\uc0b0,\u00a0\ubd84\uc11d \ubc0f \ucd94\uc801\uc744 \uac00\ub2a5\ud558\uac8c \ud55c\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uadf8\ub7ec\ub098 \ub370\uc774\ud130\ubca0\uc774\uc2a4 \uc5ed\uc2dc \uc5ec\uc804\ud788 \uc2e0\ub8b0\uc5d0 \uc758\uc874\ud55c\ub2e4.\u00a0\ub514\uc9c0\ud138\ud654\ub41c \uc6d0\uc7a5\uc740 \uadf8\uac83\uc744 \uc720\uc9c0\ud558\ub294 \uc870\uc9c1\uc758 \uc2e0\ub8b0 \uac00\ub2a5\uc131\ub9cc\ud07c\ub9cc \uc2e0\ub8b0 \uac00\ub2a5\ud558\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778\uc774 \ud574\uacb0\ud55c \uac83\uc744 \ubc14\ub85c \uc774 \ubb38\uc81c\uc774\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778\uc740 \uc6d0\uc7a5\uc744 \uc720\uc9c0\ud558\uace0 \ud655\uc99d\ud558\ub294 \uc2e0\ub8b0\ubc1b\ub294 \uad8c\uc704 \uc788\ub294 \uc911\uc559\uc5d0 \uc758\uc874\ud558\uc9c0 \uc54a\ub294 \ubd84\uc0b0\ub41c \uc6d0\uc7a5\uc774\ub2e4.<\/p>\n<h3 class=\"0\" style=\"text-align: justify;\">\ube14\ub85d\uccb4\uc778\uacfc \uc790\ubcf8\uc8fc\uc758\uc758 \uacbd\uc81c\uc801 \uae30\uad00\ub4e4<\/h3>\n<p class=\"0\" style=\"text-align: justify;\">\uadfc\ub300 \uc790\ubcf8\uc8fc\uc758\uc758 \uacbd\uc81c\uc801 \uad6c\uc870\ub294 \uc6d0\uc7a5\ub4e4\uc5d0 \uc11c\ube44\uc2a4\ub97c \uc81c\uacf5\ud558\uae30 \uc704\ud574 \ubc1c\uc804\ud588\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">2009\ub144 \ub178\ubca8\uacbd\uc81c\ud559\uc0c1 \uc218\uc0c1\uc790\uc778 \uc70c\ub9ac\uc5c4\uc2a8(Oliver Williamson)\uc740,\u00a0\uc0ac\ub78c\ub4e4\uc774 \uc2dc\uc7a5,\u00a0\ud68c\uc0ac \ud639\uc740 \uc815\ubd80\ub4e4\uc5d0\uc11c \ud574\ub2f9 \uc870\uc9c1\uc758 \uc0c1\ub300\uc801 \uac70\ub798\ube44\uc6a9\uc5d0 \uc758\uac70\ud558\uc5ec \uc0dd\uc0b0\ud558\uace0 \uad50\ud658\ud55c\ub2e4\uace0 \uc8fc\uc7a5\ud588\ub2e4.\u00a0\uc70c\ub9ac\uc5c4\uc2a8\uc758 \uac70\ub798\ube44\uc6a9 \uc811\uadfc\ubc95\uc740 \uc5b4\ub5a4 \uae30\uad00\uc774 \uc6d0\uc7a5\uc744 \uad00\ub9ac\ud558\uace0 \uc65c \uadf8\ub7ec\ub294\uc9c0\ub97c \uc774\ud574\ud558\ub294 \ub370 \uc5f4\uc1e0\ub97c \uc81c\uacf5\ud55c\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uc815\ubd80\ub4e4\uc740 \uad8c\uc704\u00b7\ud2b9\uad8c\u00b7\ucc45\uc784\u00b7\uc811\uadfc\uc758 \uc6d0\uc7a5\ub4e4\uc744 \uc720\uc9c0\ud55c\ub2e4.\u00a0\uc815\ubd80\ub4e4\uc740 \uc2dc\ubbfc\uad8c,\u00a0\uc5ec\ud589\uc758 \uc790\uc720,\u00a0\ub0a9\uc138\uc758\ubb34,\u00a0\uc0ac\ud68c\uc548\uc804\uad8c,\u00a0\uc7ac\uc0b0\uc18c\uc720\uc758 \ub370\uc774\ud130\ubca0\uc774\uc2a4\ub97c \uc720\uc9c0\ud558\ub294 \uc2e0\ub8b0\ubc1b\ub294 \uc8fc\uccb4\uc774\ub2e4.\u00a0\uc6d0\uc7a5\uc774 \uc2dc\ud589\ub418\uae30 \uc704\ud574\uc11c \uac15\uc555\uc774 \uc694\uad6c\ub418\ub294 \uacbd\uc6b0 \uc815\ubd80\uac00 \ud544\uc694\ud558\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\ud68c\uc0ac\ub4e4 \ub610\ud55c \uc6d0\uc7a5\ub4e4\uc744 \uc720\uc9c0\ud55c\ub2e4.\u00a0\uace0\uc6a9\uacfc \ucc45\uc784,\u00a0\ubb3c\ub9ac\uc801 \uc790\ubcf8\uacfc \uc778\uac04 \uc790\ubcf8\uc758 \uc18c\uc720\uc640 \ubc30\uce58,\u00a0\uacf5\uae09\uc790\ub4e4\uacfc \uace0\uac1d\ub4e4,\u00a0\uc9c0\uc801 \uc7ac\uc0b0\uacfc \uae30\uc5c5 \ud2b9\uad8c\uc744 \uae30\ub85d\ud558\ub294 \uc0ac\uc720\ud654\ub41c \uc6d0\uc7a5\ub4e4\uc774\ub2e4.\u00a0\ud68c\uc0ac\ub294 \uc885\uc885\u00a0\u2018\uacc4\uc57d\ub4e4\uc758 \uc5f0\uacc4\u2019\ub77c\uace0 \ubd88\ub9b0\ub2e4.\u00a0\uadf8\ub7ec\ub098 \ud68c\uc0ac\uc758 \uac00\uce58\ub294 \uadf8 \uc5f0\uacc4\uac00 \uc9c8\uc11c\uc640 \uad6c\uc870\ub97c \uac16\ucd94\uace0 \uc788\ub2e4\ub294 \uc810\uc5d0\uc11c \ub098\uc628\ub2e4.\u00a0\ud68c\uc0ac\ub294 \uc0ac\uc2e4\uc0c1 \uacc4\uc57d\uacfc \uc790\ubcf8\uc758 \uc6d0\uc7a5\uc774\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\ud68c\uc0ac \ubc0f \uc815\ubd80\ub4e4\uc740 \uc790\uc2e0\ub4e4\uc758 \uc5c5\ubb34\ub97c \ub354 \ud6a8\uc728\uc801\uc774\uace0 \uc2e0\ub8b0\ud560 \uc218 \uc788\ub294 \uac83\uc73c\ub85c \ub9cc\ub4dc\ub294 \ub370 \ube14\ub85d\uccb4\uc778\uc744 \uc0ac\uc6a9\ud560 \uc218 \uc788\ub2e4.\u00a0\ub2e4\uad6d\uc801 \ud68c\uc0ac\ub4e4 \uadf8\ub9ac\uace0 \ud68c\uc0ac\ub4e4\uc758 \ub124\ud2b8\uc6cc\ud06c\ub4e4\uc740 \uac70\ub798\ub97c \uc804\uc9c0\uad6c\uc801\uc73c\ub85c \uc870\uc815\ud560 \ud544\uc694\uac00 \uc788\uc73c\uba70 \ube14\ub85d\uccb4\uc778\uc774 \uc774\ub97c \uac70\uc758 \uc989\uac01\uc801\uc73c\ub85c \uac00\ub2a5\ud558\uac8c \ud55c\ub2e4.\u00a0\uc815\ubd80\ub4e4\uc740 \ube14\ub85d\uccb4\uc778\uc758 \ubcc0\uacbd \ubd88\uac00\ub2a5\uc131\uc744 \uc0ac\uc6a9\ud574\uc11c \uc7ac\uc0b0\uad8c\uc774\ub098 \uc2e0\ubd84\uae30\ub85d\uc758 \uc815\ud655\uc131\uacfc \uc870\uc791 \ubd88\uac00\ub2a5\uc131\uc744 \ubcf4\uc7a5\ud560 \uc218 \uc788\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778 \uc751\uc6a9\ud504\ub85c\uadf8\ub7a8\ub4e4\uc744 \ubc14\ud0d5\uc73c\ub85c \uc798 \uc124\uacc4\ub41c \ud5c8\uac00 \uaddc\uce59\ub4e4\uc740 \uc2dc\ubbfc\ub4e4\uacfc \uc18c\ube44\uc790\ub4e4\uc5d0\uac8c \uc790\uc2e0\ub4e4\uc758 \ub370\uc774\ud130\uc5d0 \ub300\ud55c \ub354 \ub9ce\uc740 \ud1b5\uc81c\ub825\uc744 \uc904 \uc218 \uc788\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uadf8\ub7ec\ub098 \ube14\ub85d\uccb4\uc778\uc740 \ub610\ud55c \ud68c\uc0ac\ub4e4 \ubc0f \uc815\ubd80\ub4e4\uacfc \uacbd\uc7c1\ud558\ub294 \uc704\uce58\uc5d0 \uc788\ub294\u00a0\uc81c\ub3c4 \ucc28\uc6d0\uc758 \ud14c\ud06c\ub180\ub85c\uc9c0\uc774\ub2e4.\u00a0\uadf8\ub798\uc11c \ube14\ub85d\uccb4\uc778\uc740 \ud68c\uc0ac\ub4e4\uc744\u00a0\ub300\uccb4\ud560 \uc218\ub3c4 \uc788\ub2e4.\u00a0\uacc4\uc57d\uacfc \uc790\ubcf8\uc758 \uc6d0\uc7a5\uc740 \uc774\uc804\uc5d0 \uc5c6\ub358 \ubc29\uc2dd\uc73c\ub85c \ud0c8\uc911\uc2ec\ud654\ub418\uace0 \ubd84\uc0b0\ub420 \uc218 \uc788\ub2e4.\u00a0\uc2e0\ubd84,\u00a0\ud5c8\uac00,\u00a0\ud2b9\uad8c,\u00a0\uad8c\ub9ac\uc758 \uc6d0\uc7a5\ub4e4\uc774 \uc815\ubd80\uc758 \uc9c0\uc6d0 \uc5c6\uc774 \uc2dc\ud589\ub420 \uc218 \uc788\ub294 \uac83\uc774\ub2e4.<\/p>\n<h3 class=\"0\" style=\"text-align: justify;\">\uc81c\ub3c4\uc801 \ud06c\ub9bd\ud1a0\uacbd\uc81c\ud559<\/h3>\n<p class=\"0\" style=\"text-align: justify;\">\uc81c\ub3c4\uc801 \ud06c\ub9bd\ud1a0\uacbd\uc81c\ud559(institutional cryptoeconomics)\uc740 \uc554\ud638\uae30\uc220\uc5d0 \uc758\ud574 \uc548\uc804\ud574\uc9c0\uace0 \uc2e0\ub8b0\uc640 \ubb34\uad00\ud574\uc9c4 \uc6d0\uc7a5\ub4e4\uc774 \uc81c\ub3c4\uc758 \ucc28\uc6d0\uc5d0\uc11c \uc5b4\ub5a4 \uc601\ud5a5\uc744 \ubbf8\uce58\ub294\uc9c0\ub97c \uc5f0\uad6c\ud55c\ub2e4.\u00a0\uace0\uc804\uc8fc\uc758 \ubc0f \uc2e0\uace0\uc804\uc8fc\uc758 \uacbd\uc81c\ud559\uc790\ub4e4\uc740 \uacbd\uc81c\ud559\uc758 \ubaa9\uc801\uc774 \ud76c\uc18c\ud55c \uc790\uc6d0\uc758 \uc0dd\uc0b0\uacfc \ubd84\ubc30\ub97c \uc5f0\uad6c\ud558\uace0 \uadf8 \uc0dd\uc0b0\uacfc \ubd84\ubc30\ub97c \ubc1b\uccd0\uc8fc\ub294 \uc694\uc778\ub4e4\uc744 \uc5f0\uad6c\ud558\ub294 \ub370 \uc788\ub2e4\uace0 \ubcf4\uc558\ub2e4.\u00a0\uc81c\ub3c4\uc801 \uacbd\uc81c\ud559\uc740 \uacbd\uc81c\ub97c \uaddc\uce59\ub4e4\ub85c \uc774\ub8e8\uc5b4\uc9c4 \uac83\uc73c\ub85c \ubcf8\ub2e4.\u00a0\uaddc\uce59\ub4e4(\ubc95,\u00a0\uc5b8\uc5b4,\u00a0\uc7ac\uc0b0\uad8c,\u00a0\uaddc\uc81c,\u00a0\uc0ac\ud68c\uc801 \uaddc\ubc94,\u00a0\uc774\ub370\uc62c\ub85c\uae30)\uc774 \ud769\uc5b4\uc838 \uc788\ub294 \uae30\ud68c\uc8fc\uc758\uc801\uc778 \uc0ac\ub78c\ub4e4\ub85c \ud558\uc5ec\uae08 \uc790\uc2e0\ub4e4\uc758 \ud65c\ub3d9\uc744 \uc11c\ub85c \uc5f0\uacc4\ud558\ub3c4\ub85d \ud574\uc900\ub2e4.\u00a0\uaddc\uce59\ub4e4\uc774 \uad50\ud658\uc744\u00a0(\uacbd\uc81c\uc801 \uad50\ud658\ub9cc\uc774 \uc544\ub2c8\ub77c \uc0ac\ud68c\uc801,\u00a0\uc815\uce58\uc801 \uad50\ud658\/\uad50\ub958\ub3c4)\u00a0\ucd09\uc9c4\ud55c\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\ud06c\ub9bd\ud1a0\uacbd\uc81c\ud559\uc774\ub77c \ubd88\ub9ac\uac8c \ub41c \uac83\uc740 \ube14\ub85d\uccb4\uc778\uc744 \ubc1b\uccd0\uc8fc\ub294 \uacbd\uc81c\uc801 \uc6d0\uce59\ub4e4\uacfc \uc774\ub860 \uadf8\ub9ac\uace0 \ub300\uc548\uc801\uc778 \ube14\ub85d\uccb4\uc778 \uc2e4\ud589\uc5d0 \ucd08\uc810\uc744 \ub454\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778 \uba54\ucee4\ub2c8\uc998 \uc124\uacc4\uc758 \uacbd\uc6b0\uc5d0\ub294 \uac8c\uc784\uc774\ub860\uacfc \uc778\uc13c\ud2f0\ube0c \uc124\uacc4\ub97c \uace0\ub824\ud55c\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uc774\uc640 \ub2ec\ub9ac\u00a0\uc81c\ub3c4\uc801\u00a0\ud06c\ub9bd\ud1a0\uacbd\uc81c\ud559\uc740 \ube14\ub85d\uccb4\uc778\uacfc \ud06c\ub9bd\ud1a0\uacbd\uc81c\uac00 \uacb0\ud569\ud558\uc5ec \uac00\uc838\uc62c \uc81c\ub3c4\uc801 \uacbd\uc81c\ud559\uc5d0 \ucd08\uc810\uc744 \ub454\ub2e4.\u00a0\uadf8 \uc0ac\ucd0c\uaca9\uc778 \uc81c\ub3c4\uc801 \uacbd\uc81c\ud559\uc5d0\uc11c\ucc98\ub7fc \uacbd\uc81c\ub294 \uad50\ud658\uc744 \uc5f0\uacc4\ud558\ub294 \uc2dc\uc2a4\ud15c\uc73c\ub85c \uac04\uc8fc\ub41c\ub2e4.\u00a0\uadf8\ub7f0\ub370 \uc81c\ub3c4\uc801 \ud06c\ub9bd\ud1a0\uacbd\uc81c\ud559\uc740 \uaddc\uce59\uc744 \ubcf4\uae30\ubcf4\ub2e4\ub294 \uaddc\uce59\ub4e4\uc5d0 \uc758\ud574 \uad6c\uc870\ud654\ub41c \ub370\uc774\ud130\uc778 \uc6d0\uc7a5\uc744 \ubcf8\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uc81c\ub3c4\uc801 \ud06c\ub9bd\ud1a0\uacbd\uc81c\ud559\uc740 \uc6d0\uc7a5\ub4e4\uc744 \uc9c0\ubc30\ud558\ub294 \uaddc\uce59\ub4e4,\u00a0\uadf8 \uc6d0\uc7a5\ub4e4\uc744 \uc11c\ube44\uc2a4\ud558\uae30 \uc704\ud574\uc11c \ubc1c\uc804\ud55c \uc0ac\ud68c\u00b7\uc815\uce58\u00b7\uacbd\uc81c\uc801 \uc81c\ub3c4\ub4e4,\u00a0\uadf8\ub9ac\uace0 \ube14\ub85d\uccb4\uc778\uc758 \ubc1c\uba85\uc774 \uc5b4\ub5bb\uac8c \uc804 \uc0ac\ud68c\uc5d0 \uac78\uccd0\uc11c \uc6d0\uc7a5\ub4e4\uc758 \ud328\ud134\uc744 \ubcc0\ud654\uc2dc\ud0ac\uc9c0\uc5d0 \uad00\uc2ec\uc774 \uc788\ub2e4.<\/p>\n<h3 class=\"0\" style=\"text-align: justify;\">\ube14\ub85d\uccb4\uc778\uc758 \uacbd\uc81c\uc801 \uadc0\uacb0<\/h3>\n<p class=\"0\" style=\"text-align: justify;\">\uc81c\ub3c4\uc801 \ud06c\ub9bd\ud1a0\uacbd\uc81c\ud559\uc740 \ube14\ub85d\uccb4\uc778 \ud601\uba85\uc5d0\uc11c \uc77c\uc5b4\ub098\uace0 \uc788\ub294 \uc77c\uc774 \ubb34\uc5c7\uc778\uc9c0\ub97c,\u00a0\uadf8\ub9ac\uace0 \uc6b0\ub9ac\uac00 \uc608\uce21\ud558\uc9c0 \ubabb\ud558\ub294 \uac83\uc774 \ubb34\uc5c7\uc778\uc9c0\ub97c \uc774\ud574\ud560 \ub3c4\uad6c\ub97c \uc6b0\ub9ac\uc5d0\uac8c \uac16\ucdb0\uc900\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\ube14\ub85d\uccb4\uc778\uc740 \uc2e4\ud5d8\uc801 \ud14c\ud06c\ub180\ub85c\uc9c0\uc774\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778\uc774 \uc5b4\ub514\uc5d0 \uc0ac\uc6a9\ub420 \uc218 \uc788\ub294\uac00\ub294 \uae30\uc5c5\uac00\uc758 \uad00\uc810\uc5d0\uc11c\uc758 \uc9c8\ubb38\uc774\ub2e4.\u00a0\uc77c\ubd80 \uc6d0\uc7a5\ub4e4\uc774 \ube14\ub85d\uccb4\uc778 \uc704\ub85c \uc774\ub3d9\ud560 \uac83\uc774\ub2e4.\u00a0\uc77c\ubd80 \uae30\uc5c5\uac00\ub4e4\uc740 \uc6d0\uc7a5\ub4e4\uc744 \ube14\ub85d\uccb4\uc778 \uc704\ub85c \uc774\ub3d9\ud558\ub824\uace0 \uc2dc\ub3c4\ud558\uc9c0\ub9cc \uc2e4\ud328\ud560 \uac83\uc774\ub2e4.\u00a0\ubaa8\ub4e0 \uac83\uc774 \ube14\ub85d\uccb4\uc778\uc758 \uc0ac\uc6a9 \uc0ac\ub840\uac00 \ub418\uc9c0\ub294 \ubabb\ud55c\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778\uc758 \ud0ac\ub7ec \uc571\uc740 \uc544\uc9c1 \uc5c6\ub2e4.\u00a0\uc6d0\uc7a5\ub4e4,\u00a0\uc554\ud638\uae30\uc220, P2P\ub124\ud2b8\uc6cc\ud0b9\uc758 \uacb0\ud569\uc774 \ubbf8\ub798\uc5d0 \uc5b4\ub5a4 \uac83\uc744 \ub0b3\uc744\uc9c0 \uc608\uce21\ud560 \uc218 \uc5c6\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uc774\ub7f0 \uacfc\uc815\uc740 \uadf9\ud788\u00a0\ud30c\uc5f4\uc801\uc774 \ub420 \uac83\uc774\ub2e4.\u00a0\ucd94\uce21\ucee8\ub300 \uc804\uc9c0\uad6c\uc801 \uacbd\uc81c\ub294 \ube14\ub85d\uccb4\uc778\uc744 \ubc1b\uccd0\uc8fc\ub294 \uc0ac\uc2e4\ub4e4\uc758 \uc7ac\uad6c\uc870\ud654\u00b7\ud574\uccb4\u00b7\uc7ac\uc870\uc9c1\uacfc \uad00\ub828\ub41c \uae34 \ubd88\ud655\uc2e4\uc131\uc758 \uc2dc\uae30\ub97c \ub9de\uac8c \ub420 \uac83\uc774\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\ube14\ub85d\uccb4\uc778\uc758 \ucd5c\uc120\uc758 \uc0ac\uc6a9\uc774\u00a0\u2018\ubc1c\uacac\u2019\ub418\uc5b4 \uc774\ubbf8 \uc6d0\uc7a5\uc5d0 \ub300\ud55c \uc11c\ube44\uc2a4\ub97c \ud558\ub294 \uae30\uad00\ub4e4\uc774 \uae4a\uc774 \uc790\ub9ac\ub97c \uc7a1\uace0 \uc788\ub294 \ud604\uc2e4 \uc138\uacc4\uc758 \uc815\uce58\uc801\u00b7\uacbd\uc81c\uc801 \uccb4\uacc4\uc5d0\uc11c \uc2e4\ud589\ub418\uc5b4\uc57c \ud55c\ub2e4.\u00a0\uc774 \ub458\uc9f8 \ubd80\ubd84\uc740 \ube44\uc6a9\uc744 \ub4e4\uc774\uc9c0 \uc54a\uace0 \uc77c\uc5b4\ub098\uc9c0\ub294 \uc54a\uc744 \uac83\uc774\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uc6d0\uc7a5\ub4e4\uc740 \ud30c\uae09\ub825\uc774 \ud06c\uace0 \ube14\ub85d\uccb4\uc778\uc758 \uac00\ub2a5\ud55c \uc751\uc6a9\ud504\ub85c\uadf8\ub7a8\ub4e4\ub3c4 \ub9e4\uc6b0 \ud3ec\uad04\uc801\uc774\uae30 \ub54c\ubb38\uc5d0 \uc6b0\ub9ac \uc0ac\ud68c\ub97c \uc81c\uc5b4\ud558\ub294 \uac00\uc7a5 \uadfc\ubcf8\uc801\uc778 \uc6d0\uce59\ub4e4\uc758 \uc77c\ubd80\uac00 \uc190\uc5d0 \uc7a1\ud790 \ub4ef\uc774 \ub4dc\ub7ec\ub0a0 \uac83\uc774\ub2e4.<\/p>\n<h3 class=\"0\" style=\"text-align: justify;\">\uc81c\ub3c4\uc758 \ucc3d\uc870\uc801 \ud30c\uad34<\/h3>\n<p class=\"0\" style=\"text-align: justify;\">\uc6b0\ub9ac\ub294 \uc774\uc804\uc5d0 \uc774\ub7f0 \ud601\uba85\ub4e4\uc744 \uacaa\uc5b4 \ubcf4\uc558\ub2e4.\u00a0\ubcf4\ud1b5 \ube44\ud2b8\ucf54\uc778\uc758 \ubc1c\uba85\uacfc \ube14\ub85d\uccb4\uc778\uc744 \uc778\ud130\ub137\uacfc \ube44\uad50\ud55c\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778\uc744 \uc778\ud130\ub137\u00a02.0\uc774\ub77c\uace0 \ubd80\ub974\uac70\ub098 \uc778\ud130\ub1374.0\uc774\ub77c\uace0 \ubd80\ub978\ub2e4.\u00a0\uc778\ud130\ub137\uc740 \uc6b0\ub9ac\uac00 \uc0c1\ud638\uc791\uc6a9\ud558\uace0 \uc0ac\uc5c5\uc744 \ud589\ud558\ub294 \ubc29\uc2dd\uc744 \ud601\uc2e0\ud55c \uac15\ub825\ud55c \ub3c4\uad6c\uc774\ub2e4.\u00a0\uadf8\ub7ec\ub098 \uc774 \ube44\uad50\ub294 \ube14\ub85d\uccb4\uc778\uc744 \ub35c \uccd0\uc900 \ud3b8\uc774\ub2e4.\u00a0\uc778\ud130\ub137\uc740 \uc6b0\ub9ac\ub85c \ud558\uc5ec\uae08 \ub354 \uc798,\u00a0\ub354 \ube68\ub9ac,\u00a0\ub354 \ud6a8\uc728\uc801\uc73c\ub85c \uc18c\ud1b5\ud558\uace0 \uad50\ud658\ud558\ub3c4\ub85d \ud574\uc8fc\uc5c8\ub2e4.\u00a0\uadf8\ub7ec\ub098 \ube14\ub85d\uccb4\uc778\uc740\u00a0\uc804\uacfc \ub2e4\ub974\uac8c\u00a0\uad50\ud658\ud558\ub3c4\ub85d \ud574\uc900\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778\uc5d0 \ud569\ub2f9\ud55c \ub354 \uc88b\uc740 \uc740\uc720\ub294 \uae30\uacc4\uc801 \uc2dc\uac04\uc758 \ubc1c\uba85\uc774\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uae30\uacc4\uc801 \uc2dc\uac04 \uc774\uc804\uc5d0 \uc778\uac04\uc758 \ud65c\ub3d9\uc740 \uc790\uc5f0\uc758 \uc2dc\uac04\u2015\uc544\uce68\uc5d0 \ub4e4\ub9ac\ub294 \ub2ed\uc758 \uc6b8\uc74c\uacfc \uc800\ub141\uc5d0 \ucc9c\ucc9c\ud788 \ub545\uac70\ubbf8\uac00 \uc9c0\ub294 \uac83\u2015\uc5d0 \uc758\ud574 \uaddc\uc81c\ub418\uc5c8\ub2e4.\u00a0<a href=\"https:\/\/books.google.com.au\/books?id=BABNNdsSQNwC&amp;lpg=PP1&amp;pg=PT61#v=onepage&amp;q&amp;f=false\"><u>\uacbd\uc81c\uc0ac\uac00 \uc568\ub7f0<\/u><u>(Douglas W. Allen)<\/u><u>\uc774 \uc8fc\uc7a5\ud558\ub4ef\uc774<\/u><\/a>\u00a0\ubb38\uc81c\ub294 \uac00\ubcc0\uc131\uc774\uc5c8\ub2e4. \u201c\uc2dc\uac04\uc758 \uce21\uc815\uc5d0 \ub108\ubb34\ub098\ub3c4 \ub9ce\uc740 \uac00\ubcc0\uc131\uc774 \uc874\uc7ac\ud574\uc11c \ub9ce\uc740 \uc77c\uc0c1\uc801\uc778 \ud65c\ub3d9\ub4e4\uc774 \uc720\uc6a9\ud55c \uc758\ubbf8\ub97c \uac00\uc9c0\uae30 \ud798\ub4e4\uc5c8\ub2e4.\u201d \u201c\uc2dc\uac04 \uce21\uc815\uc758 \uac00\ubcc0\uc131\uc758 \uac10\uc18c\uac00 \uac00\uc838\ub2e4\uc8fc\ub294 \ud6a8\uacfc\ub294 \ubaa8\ub4e0 \uacf3\uc5d0\uc11c \uac10\uc9c0\ub418\uc5c8\ub2e4\u201d\ub77c\uace0 \uc568\ub7f0\uc740 \uc4f4\ub2e4.\u00a0\uae30\uacc4\uc801 \uc2dc\uac04\uc740 \uadf8 \uc774\uc804\uc5d0\ub294 \ubd88\uac00\ub2a5\ud588\uc744 \ubfd0\ub9cc \uc544\ub2c8\ub77c \uc0c1\uc0c1\uc870\ucc28 \ubabb\ud588\ub358 \uacbd\uc81c\uc801 \uc870\uc9c1\ud654\uc758 \uc804\uc801\uc73c\ub85c \uc0c8\ub85c\uc6b4 \ubc94\uc8fc\ub4e4\uc744 \uc5f4\uc5b4\uc816\ud614\ub2e4.\u00a0\uad50\uc5ed\uacfc \uad50\ud658\uc774 \uba3c \uac70\ub9ac\ub97c \uac00\ub85c\uc9c8\ub7ec \ub3d9\uc2dc\uc801\uc73c\ub85c \uc774\ub8e8\uc5b4\uc9c0\ub294 \uac83\uc774 \uac00\ub2a5\ud574\uc84c\ub2e4.\u00a0\ud558\ub8e8\ub97c \uad6c\uc870\ud654\ud560 \uc218 \uc788\uac8c \ub418\uc5c8\uace0 \ub178\ub3d9\ud55c \uc2dc\uac04\uc758 \uc591\uc5d0 \ub530\ub77c \ubcf4\uc218\uac00 \uc8fc\uc5b4\uc9c8 \uc218 \uc788\uac8c \ub418\uc5c8\ub2e4.\u00a0\ub178\ub3d9\uc790\ub4e4\uc740 \uc790\uc2e0\ub4e4\uc774 \uacf5\uc815\ud558\uac8c \ubcf4\uc0c1\uc744 \ubc1b\ub294\ub2e4\ub294 \uac83\uc744 \uc54c\uac8c \ub418\uc5c8\ub2e4.\u00a0\uace0\uc6a9\uc8fc\ub098 \ud53c\uace0\uc6a9\uc778\uc774\ub098 \uc5b4\ub5a4 \uacc4\uc57d\uc774 \uc218\ud589\ub418\ub294 \uac83\uc744 \ud655\uc99d\ud558\ub294 \ub3c5\ub9bd\uc801 \ub3c4\uad6c\uc778 \ud45c\uc900\uc744 \ubcfc \uc218 \uc788\uc5c8\ub2e4.<\/p>\n<h3 class=\"0\" style=\"text-align: justify;\">\uc644\uacb0\ub41c \uc2a4\ub9c8\ud2b8 \uacc4\uc57d\uacfc \ubbf8\uc644\uacb0\ub41c \uc2a4\ub9c8\ud2b8 \uacc4\uc57d<\/h3>\n<p class=\"0\" style=\"text-align: justify;\">\uc70c\uc2a8\uacfc\u00a0(\uadf8\uc640 \ub9c8\ucc2c\uac00\uc9c0\ub85c \ub178\ubca8\uacbd\uc81c\ud559\uc0c1 \uc218\uc0c1\uc790\uc778)\u00a0\ucf54\uc2a4(Ronald Coase)\ub294 \uacc4\uc57d\uc744 \uacbd\uc81c\uc801 \uc870\uc9c1\ud654\uc758 \ud575\uc2ec\uc801 \uc704\uce58\uc5d0 \ub193\ub294\ub2e4.\u00a0\uacc4\uc57d\uc774 \uc81c\ub3c4\uc801 \ud06c\ub9bd\ud1a0\uacbd\uc81c\ud559\uc758 \uc911\uc2ec\ubd80\uc5d0 \ub193\uc5ec\uc788\ub2e4.\u00a0\ubc14\ub85c \uc5ec\uae30\uc11c \ube14\ub85d\uccb4\uc778\uc740 \uac00\uc7a5 \ud601\uba85\uc801\uc778 \ud568\ucd95\uc744 \uac00\uc9c4\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778 \uc704\uc5d0\uc11c \uc774\ub8e8\uc5b4\uc9c0\ub294 \uc2a4\ub9c8\ud2b8 \uacc4\uc57d\uc740 \uacc4\uc57d\uc5d0 \uc758\ud55c \ud569\uc758\uac00 \uc790\ub3d9\uc801\u00b7\uc790\uc728\uc801\uc73c\ub85c \uadf8\ub9ac\uace0 \uc548\uc804\ud558\uac8c \uc2e4\ud589\ub418\ub3c4\ub85d \ud55c\ub2e4.\u00a0\uc2a4\ub9c8\ud2b8 \uacc4\uc57d\uc740 \uacc4\uc57d\uc758 \uc2e4\ud589\uc744 \uc720\uc9c0\ud558\uace0 \uc2dc\ud589\ud558\uace0 \ud655\uc778\ud558\ub294 \uc77c\uc744 \ud558\ub294 \uc0ac\ub78c\ub4e4 \uc804\uccb4\u2015\ud68c\uacc4\uc0ac\ub4e4,\u00a0\uac10\uc0ac\ub4e4,\u00a0\ubc95\ub960\uac00\ub4e4,\u00a0\uadf8\ub9ac\uace0 \ub9ce\uc740 \ubc95 \uc81c\ub3c4\ub4e4\u2015\ub97c \uc81c\uac70\ud558\uac8c \ub420 \uc218 \uc788\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uadf8\ub7ec\ub098 \uc2a4\ub9c8\ud2b8 \uacc4\uc57d\uc740 \uc54c\uace0\ub9ac\uc998\uc758 \uc138\ubd80\uc5d0 \uc758\ud574\uc11c \uc81c\ud55c\ub41c\ub2e4.\u00a0\uacbd\uc81c\ud559\uc790\ub4e4\uc740 \uc644\uacb0\ub41c(complete)\u00a0\uacc4\uc57d\uacfc \ubbf8\uc644\uacb0(incomplete)\u00a0\uacc4\uc57d \uc0ac\uc774\uc758 \uad6c\ubd84\uc5d0 \ucd08\uc810\uc744 \ub450\uc5b4\uc654\ub2e4.\u00a0\uc644\uacb0\ub41c \uacc4\uc57d\uc740 \ubaa8\ub4e0 \uac00\ub2a5\ud55c \uc0c1\ud669\uc5d0\uc11c \uc77c\uc5b4\ub0a0 \uc218 \uc788\ub294 \uc77c\uc744 \uc801\uc2dc\ud55c\ub2e4.\u00a0\ubbf8\uc644\uacb0 \uacc4\uc57d\uc740 \ub73b\ubc16\uc758 \uc77c\uc774 \uc77c\uc5b4\ub098\ub294 \uacbd\uc6b0 \uacc4\uc57d\uc870\uac74\uc758 \uc7ac\ud611\uc0c1\uc744 \ud5c8\uc6a9\ud55c\ub2e4.\u00a0\uc644\uacb0\ub41c \uacc4\uc57d\ub4e4\uc740 \uc2e4\ud589\ud558\uae30\uac00 \ubd88\uac00\ub2a5\ud558\uba70 \ubbf8\uc644\uacb0 \uacc4\uc57d\ub4e4\uc740 \ub3c8\uc774 \ub9ce\uc774 \ub4e0\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778\uc740 \uc2a4\ub9c8\ud2b8 \uacc4\uc57d\uc744 \ud1b5\ud574\uc11c \ub9ce\uc740 \ubbf8\uc644\uacb0 \uacc4\uc57d\uacfc \uc5f0\uad00\ub41c \uc815\ubcf4\ube44\uc6a9\uacfc \uac70\ub798\ube44\uc6a9\uc744 \ub0ae\ucda4\uc73c\ub85c\uc368 \uacbd\uc81c\ud65c\ub3d9\uc758 \uaddc\ubaa8\uc640 \ubc94\uc704\ub97c \ud655\ub300\uc2dc\ud0a8\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uc774 \uc77c\uc774 \uc5b8\uc81c \uc5b4\ub5bb\uac8c \uc77c\uc5b4\ub0a0\uc9c0\uc758 \uc815\ud655\ud55c \uc138\ubd80\ub294 \uae30\uc5c5\uac00\ub4e4\uc774 \ud480\uc5b4\uc57c \ud560 \ubb38\uc81c\uc774\ub2e4.\u00a0\ud604\uc7ac \uc624\ub77c\ud074\ub4e4\u2015\uc815\ubcf4\ub97c \uc2a4\ub9c8\ud2b8 \uacc4\uc57d\uc774 \ucc98\ub9ac\ud560 \uc218 \uc788\ub294 \ub370\uc774\ud130\ub85c \ubcc0\ud658\ud574\uc8fc\ub294 \uc2e0\ub8b0\ud560\ub9cc\ud55c \uc8fc\uccb4\ub4e4\u2015\uc774 \ube14\ub85d\uccb4\uc778\uc758 \uc54c\uace0\ub9ac\uc998 \uc138\uacc4\uc640 \ud604\uc2e4 \uc138\uacc4\ub97c \uc5f0\uacb0\ud574\uc900\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778 \ud601\uba85\uc5d0\uc11c \uc2e4\uc9c8\uc801\uc73c\ub85c \uc5bb\uc744 \uc774\ub4dd\uc740,\u00a0\ubbf8\uc644\uacb0 \uacc4\uc57d\ub4e4\uc744 \ube14\ub85d\uccb4\uc778 \uc704\uc5d0\uc11c \uc2e4\ud589\ub418\uae30\uc5d0 \ucda9\ubd84\ud788 \uc644\uacb0\ub41c \uacc4\uc57d\uc73c\ub85c \uc804\ud658\uc2dc\ud0ac \ub354 \ub0ab\uace0 \ub354 \uac15\ub825\ud55c \uc624\ub77c\ud074\ub4e4\uc744 \ubc1c\uc804\uc2dc\ud0a4\ub294 \ub370 \uc788\ub2e4\uace0 \ubcf8\ub2e4.\u00a0\uc911\uc138\uc758 \uc0c1\uc778\ud601\uba85\uc740 \uc0c1\uc778 \ubc95\uc815\ub4e4[\uad6d\uc81c\uc0c1\uad00\uc2b5\ubc95Lex mercatoria, merchant law\uc744 \uc9d1\ud589\ud55c\ub2e4\u2015\uc815\ub9ac\uc790]\uc758 \ubc1c\uc804\uc5d0 \uc758\ud574 \uac00\ub2a5\ud574\uc84c\ub2e4.\u00a0\uc2e4\uc9c8\uc801\uc73c\ub85c \uc2e0\ub8b0\ub97c \ubc1b\ub294 \uc624\ub77c\ud074\ub4e4\uc5d0 \ud574\ub2f9\ud558\ub294 \uc774 \ubc95\uc815\ub4e4\uc774 \uad50\uc5ed\uc790\ub4e4\ub85c \ud558\uc5ec\uae08 \uc0ac\uc801\uc73c\ub85c \uacc4\uc57d\uc744 \uc2e4\ud589\ud560 \uc218 \uc788\uac8c \ud588\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778\uc758 \uacbd\uc6b0\uc5d0 \uc774\ub7f0 \ud601\uba85\uc740 \uc544\uc9c1 \uc624\uc9c0 \uc54a\uc740 \ub4ef\ud558\ub2e4.<\/p>\n<h3 class=\"0\" style=\"text-align: justify;\">\uc815\ubd80\ub294 \uc5b4\ub514\ub85c?<\/h3>\n<p class=\"0\" style=\"text-align: justify;\">\ube14\ub85d\uccb4\uc778 \uacbd\uc81c\ub294 \uc138\uae08,\u00a0\uaddc\uc81c,\u00a0\uc11c\ube44\uc2a4 \uc81c\uacf5 \ub4f1 \ub9ce\uc740 \uba74\uc5d0\uc11c \uc815\ubd80\uc758 \ud1b5\uce58\uacfc\uc815\uc5d0 \uc555\ubc15\uc744 \uac00\ud55c\ub2e4.\u00a0\ub300\uc911\uacfc \uc0c1\ud638\uc791\uc6a9\ud558\ub294 \uae08\uc735\uae30\uad00\ub4e4\uc758 \uacbd\uc6b0 \uadf8 \uc548\uc804\uc131\uacfc \uac74\uc804\uc131\uc744 \ubcf4\uc7a5\ud558\uae30 \uc704\ud574 \uac74\uc804\uc131 \ud1b5\uc81c(prudential control)\uac00 \ubc1c\uc804\ud588\ub2e4.\u00a0\ubcf4\ud1b5 \uc774 \ud1b5\uc81c(\uc608\ub97c \ub4e4\uc5b4 \uc720\ub3d9\uc131\uacfc \uc790\ubcf8 \uc694\uac74\ub4e4)\ub294 \uc608\uae08\uc8fc\ub4e4\uacfc \ucd9c\uc790\uc790\ub4e4\uc774 \uc740\ud589\uc758 \uc6d0\uc7a5\uc744 \ubcfc \uc218 \uc5c6\ub2e4\ub294 \uc0ac\uc2e4\uc5d0 \uc758\ud574 \uc815\ub2f9\ud654\ub41c\ub2e4.\u00a0\uc608\uae08\uc8fc\ub4e4\uacfc \ucd9c\uc790\uc790\ub4e4\uc740 \ud68c\uc0ac\uc758 \uad00\ub9ac\uc5d0 \uae30\uc728\uc744 \ubd80\uacfc\ud560 \uc218 \uc5c6\ub294 \uac83\uc774\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778\uc758 \uc4f0\uc784\uc0c8 \uac00\uc6b4\ub370 \ud558\ub098\ub294 \uc608\uae08\uc8fc\ub4e4\uacfc \ucd9c\uc790\uc790\ub4e4\uc774 \uc740\ud589\uc758 \uc9c0\ubd88\uc900\ube44\uae08\uacfc \ub300\ucd9c\uc744 \uacc4\uc18d \ubaa8\ub2c8\ud130\ud558\uc5ec \uc790\uc2e0\ub4e4\uacfc \uc740\ud589 \uacbd\uc601\uc9c4 \uc0ac\uc774\uc758 \uc815\ubcf4\ube44\ub300\uce6d\uc744 \uc2e4\uc9c8\uc801\uc73c\ub85c \uc81c\uac70\ud558\uac8c \ud574\uc8fc\ub294 \uac83\uc774\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\ube14\ub85d\uccb4\uc778\uc758 \ubcc0\uacbd \ubd88\uac00\ub2a5\uc131\uc5d0 \ub300\ud55c \ub300\uc911\uc758 \uc2e0\ub8b0\ub294 \uadfc\uac70 \uc5c6\ub294 \ubc45\ud06c\ub7f0\uc774 \uc77c\uc5b4\ub098\uc9c0 \uc54a\ub3c4\ub85d \ubcf4\uc7a5\ud55c\ub2e4.\u00a0\uaddc\uc81c\uc790\uc758 \uc5ed\ud560\uc740 \ube14\ub85d\uccb4\uc778\uc774 \uc815\ud655\ud558\uace0 \uc548\uc804\ud558\uac8c \uad6c\ucd95\ub418\uc5b4 \uc788\ub2e4\ub294 \uac83\uc744 \uacf5\uc778\ud558\ub294 \ub370 \uad6d\ud55c\ub41c\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\ube14\ub85d\uccb4\uc778\uc758 \ub354 \ub098\uc544\uac04 \uc4f0\uc784\uc0c8\ub294\u00a0\ud06c\ub9bd\ud1a0\ubc45\ud06c\u2015\ube4c\ub9ac\ub294 \uc0ac\ub78c\uacfc \ube4c\ub824\uc8fc\ub294 \uc0ac\ub78c\uc744 \uc9c1\uc811 \uc5f0\uacb0\ud568\uc73c\ub85c\uc368 \ub2e8\uae30\ub85c \ube4c\ub9ac\uace0 \uc7a5\uae30\ub85c \ube4c\ub824\uc8fc\ub294 \uc790\uc728\uc801\uc778 \ube14\ub85d\uccb4\uc778 \uc751\uc6a9\ud504\ub85c\uadf8\ub7a8\u2015\uc774\ub2e4.\u00a0\uc2a4\ub9c8\ud2b8 \uacc4\uc57d \uc54c\uace0\ub9ac\uc998\uc73c\ub85c \uad6c\ucd95\ub41c \ud06c\ub9bd\ud1a0\ubc45\ud06c\ub294 \uacf5\uc801 \ube14\ub85d\uccb4\uc778 \uc6d0\uc7a5\uc744 \uac00\uc9c4 \uc740\ud589\ub9cc\ud07c\uc774\ub098 \ud22c\uba85\ud55c \uc18d\uc131\uc744 \uac00\uc9c0\uba74\uc11c\ub3c4 \uaddc\uc81c\uc790\ub4e4\uc744 \ud544\uc694\ub85c \ud558\uc9c0 \uc54a\ub294\ub2e4.\u00a0\uc608\ub97c \ub4e4\uc5b4 \ud06c\ub9bd\ud1a0\ubc45\ud06c\ub294 \uc2a4\uc2a4\ub85c \uccad\uc0b0\ud560 \uc218 \uc788\ub2e4.\u00a0\ud06c\ub9bd\ud1a0\ubc45\ud06c\uac00 \uc9c0\uae09\ubd88\ub2a5\uc774 \ub418\uba74 \uadf8 \ubc14\ud0d5\uc5d0 \uc788\ub294 \uc790\uc0b0\uc774 \uc790\ub3d9\uc801\uc73c\ub85c \ucd9c\uc790\uc790\ub4e4\uacfc \uc608\uae08\uc8fc\ub4e4\uc5d0\uac8c \uc9c0\uae09\ub41c\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\"><a href=\"https:\/\/www.cato-unbound.org\/2015\/04\/06\/alex-tabarrok-tyler-cowen\/end-asymmetric-information\"><u>\uce74\uc6b0\uc5b8<\/u><u>(Tyler Cowen)<\/u><u>\uac00 \ud0c0\ubc14\ub85d<\/u><u>(Alex Tabarrok)<\/u><\/a>\uc740 \ub9ce\uc740 \uc815\ubd80 \uaddc\uc81c\uac00 \uc815\ubcf4\ube44\ub300\uce6d \ubb38\uc81c\ub97c \ud574\uacb0\ud558\uae30 \uc704\ud574 \uc124\uacc4\ub41c \uac83 \uac19\ub2e4\uace0 \uc8fc\uc7a5\ud588\ub2e4.\u00a0\uc774\ub294 \uc815\ubcf4\uac00 \uc5b4\ub514\uc5d0\ub098 \ub450\ub8e8 \ud37c\uc838\uc788\ub294 \uc138\uacc4\uc5d0\uc11c\ub294 \ub354 \uc774\uc0c1 \uc874\uc7ac\ud558\uc9c0 \uc54a\ub294 \ubb38\uc81c\uc774\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778 \uc751\uc6a9\ud504\ub85c\uadf8\ub7a8\ub4e4\uc740 \uc774 \uc815\ubcf4\uc758 \ud3b8\uc7ac(\u904d\u5728)\u00a0\uacbd\ud5a5\uc744 \uc8fc\ubaa9\ud560 \ub9cc\ud558\uac8c \uc99d\uac00\uc2dc\ud0a4\uba70 \uadf8 \uc815\ubcf4\ub97c \ub354 \ud22c\uba85\ud558\uace0 \uc601\uc18d\uc801\uc774\uba70 \uc811\uadfc \uac00\ub2a5\ud558\uac8c \ub9cc\ub4e0\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\ube14\ub85d\uccb4\uc778\uc740\u00a0\u2019\ub809\ud14d\u2018(regtech)\uc774\ub77c\uace0 \ubd88\ub9ac\ub294 \uac83\uc5d0\uc11c \ud6a8\uc6a9\uc744 \uac00\uc9c0\uace0 \uc788\ub2e4.\u00a0\uc774\ub294 \uac10\uc0ac,\u00a0\uc900\ubc95\uac10\uc2dc,\u00a0\uc2dc\uc7a5 \uac10\uc2dc\ub77c\ub294 \uc804\ud1b5\uc801\uc778 \uaddc\uc81c \uae30\ub2a5\ub4e4\uc5d0 \ud14c\ud06c\ub180\ub85c\uc9c0\ub97c \uc801\uc6a9\ud55c \uac83\uc774\ub2e4.\u00a0\uadf8\ub9ac\uace0 \uc6b0\ub9ac\ub294 \ube14\ub85d\uccb4\uc778 \uc138\uacc4\uc5d0\uc11c \uc0c8\ub85c\uc6b4 \uc18c\ube44\uc790 \ubcf4\ud638\ub098 \uc2dc\uc7a5 \ud1b5\uc81c\ub97c \uc694\uad6c\ud558\ub294 \uc0c8\ub85c\uc6b4 \uacbd\uc81c\uc801 \ubb38\uc81c\ub4e4\uc774 \uc0dd\uae38 \uac00\ub2a5\uc131\uc744 \ubc30\uc81c\ud574\uc11c\ub294 \uc548 \ub41c\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uadf8\ub7fc\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0 \uc740\ud589 \uac19\uc740 \uae30\ubcf8\uc801\uc778 \uacbd\uc81c\uc801 \ud615\ud0dc\ub4e4\uc758 \uc7ac\uad6c\uc870\ud654\uc640 \uc7ac\ucc3d\ucd9c\uc740 \uaddc\uc81c\uc758 \uc2dc\ud589 \ubc29\uc2dd\ub9cc\uc774 \uc544\ub2c8\ub77c \uaddc\uc81c\uac00 \ud574\uc57c \ud558\ub294 \uc77c\uc5d0 \ub300\ud574\uc11c\ub3c4 \uc555\ubc15\uc744 \uac00\ud560 \uac83\uc774\ub2e4.<\/p>\n<h3 class=\"0\" style=\"text-align: justify;\">\ub300\uae30\uc5c5\ub4e4\uc740 \uc5b4\ub514\ub85c?<\/h3>\n<p class=\"0\" style=\"text-align: justify;\">\ube14\ub85d\uccb4\uc778 \uacbd\uc81c\uac00 \ub300\uae30\uc5c5\uc5d0 \ubbf8\uce60 \uc601\ud5a5\ub3c4 \ub9c8\ucc2c\uac00\uc9c0\ub85c \ud06c\ub2e4.\u00a0\uae30\uc5c5\uc758 \uc0ac\uc774\uc988\ub294 \uc885\uc885 \uae30\uc5c5 \uc704\uacc4\uc758 \ube44\uc6a9\uc744 \uac10\ub2f9\ud560 \ud544\uc694\uc5d0 \uc758\ud574 \ucd94\ub3d9\ub41c\ub2e4.\u00a0\uc774 \ube44\uc6a9\uc740 \ubbf8\uc644\uacb0 \uacc4\uc57d\uacfc \ub300\uaddc\ubaa8 \ud22c\uc790\uc758 \uae30\uc220\uc801 \ud544\uc694\uc5d0 \uae30\uc778\ud55c\ub2e4.\u00a0\uc774\ub7f0 \ubaa8\ub378\uc740 \ucd9c\uc790\uc790 \uc790\ubcf8\uc8fc\uc758\uac00 \uae30\uc5c5 \uc870\uc9c1\uc758 \uc9c0\ubc30\uc801\uc778 \ud615\ud0dc\uc784\uc744 \uc758\ubbf8\ud55c\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778 \uc704\uc5d0\uc11c \ub354 \ubcf5\uc7a1\ud55c \uacc4\uc57d\uc744 \ud560 \ub2a5\ub825\uc740 \uae30\uc5c5\uac00\ub4e4\uacfc \ud601\uc2e0\uac00\ub4e4\uc774 \uc790\uc2e0\ub4e4\uc758 \uc778\uac04 \uc790\ubcf8 \ubc0f \uc774\uc724\uc5d0 \ub300\ud55c \uc18c\uc720\uad8c\uacfc \ud1b5\uc81c\ub97c \ub3d9\uc2dc\uc5d0 \uc720\uc9c0\ud560 \uc218 \uc788\uc74c\uc744 \uc758\ubbf8\ud55c\ub2e4.\u00a0\uc131\uacf5\uc801\uc778 \uc0ac\uc5c5\uc744 \ud558\ub294 \uac83\uacfc \uae08\uc735\uc790\ubcf8\uc5d0\uc758 \uc811\uadfc \uc0ac\uc774\uc758 \uad00\uacc4\ub294 \uc2dc\uac04\uc774 \uac08\uc218\ub85d \uc57d\ud574\uc84c\ub294\ub370,\u00a0\uc774\uc81c\ub294 \ub2e8\uc808\ub420 \uc218\ub3c4 \uc788\ub2e4.\u00a0\uc778\uac04 \uc790\ubcf8\uc8fc\uc758\uc758 \uc2dc\ub300\uac00 \ub3d9\ud130\uc624\uace0 \uc788\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uae30\uc5c5\uac00\ub4e4\uc740 \uac00\uce58 \uc788\ub294 \uc571\uc744 \ub9cc\ub4e4 \uc218 \uc788\uace0 \uadf8\uac83\uc744 \uadf8 \uae30\ub2a5\uc744 \ud544\uc694\ub85c \ud558\ub294 \ub204\uad6c\ub77c\ub3c4 \uc4f8 \uc218 \uc788\uac8c \uac1c\ubc29\ud560 \uc218 \uc788\uc744 \uac83\uc774\ub2e4.\u00a0\uae30\uc5c5\uac00\ub294 \uc774\uc5d0 \ub300\ud55c \ub300\uac00\ub85c \uc9c0\uac11\uc5d0 \ub9c8\uc774\ud06c\ub85c\ud398\uc774\uba3c\ud2b8\uac00 \ucd95\uc801\ub418\ub294 \uac83\uc744 \uc9c0\ucf1c\ubcfc \ubfd0\uc774\ub2e4.\u00a0\uc124\uacc4\uc790\ub294 \uc124\uacc4\ud55c \uac83\uc744 \uac1c\ubc29\ud558\uace0 \ucd5c\uc885 \uc18c\ube44\uc790\ub4e4\uc774\u00a03D\u00a0\ud504\ub9b0\ud130\uc5d0 \uadf8 \uc124\uacc4\ub97c \ub2e4\uc6b4\ubc1b\uc544\uc11c \uac70\uc758 \uc989\uac01\uc801\uc73c\ub85c \uc0dd\uc0b0\ubb3c\uc744 \ub9cc\ub4e4 \uc218 \uc788\ub2e4.\u00a0\uc774\ub7f0 \uc0ac\uc5c5\ubaa8\ub378\uc744 \ucc44\ud0dd\ud558\uba74 \ud604\uc7ac\ubcf4\ub2e4 \ub354\u00a0(\ub9ce\uc740)\u00a0\uc9c0\uc5ed\ud654\ub41c \uc81c\uc870\uac00 \uc774\ub8e8\uc5b4\uc9c0\ub294 \uac83\uc744 \ubcfc \uc218 \uc788\uc744 \uac83\uc774\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uc18c\ube44\uc790\ub4e4\uc774 \uc0dd\uc0b0\uc790\ub4e4\uc774\ub098 \uc124\uacc4\uc790\ub4e4\uacfc \uc9c1\uc811 \uc0c1\ud638\uc791\uc6a9\ud560 \uc218 \uc788\ub294 \ub2a5\ub825\uc774 \uc911\uac1c\uc778\uc774 \uacbd\uc81c\uc5d0\uc11c \ud558\ub358 \uc5ed\ud560\uc744 \uc81c\ud55c\ud560 \uac83\uc774\ub2e4.\u00a0\ubb3c\ub958\ud68c\uc0ac\ub4e4\uc740 \uacc4\uc18d \ubc88\uc131\ud560 \uac83\uc774\uc9c0\ub9cc,\u00a0\uc6b4\uc804\uc790 \uc5c6\ub294 \uc218\uc1a1\uc758 \ucd9c\ud604\uc774 \uc774 \uc0b0\uc5c5\uc5d0\ub3c4 \ud30c\uc5f4\uc744 \uac00\uc838\uc62c \uac83\uc774\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uc0ac\uc5c5\uc774 \ud30c\uc5f4\ub418\uba74 \ud68c\uc0ac\uc758 \uc870\uc138 \uae30\ubc18 \ub610\ud55c \ud30c\uc5f4\ub41c\ub2e4.\u00a0\uc815\ubd80\uac00 \uc0ac\uc5c5\uccb4\uc5d0\uac8c \uc138\uae08\uc744 \ubb3c\ub9ac\ub294 \uac83\uc774 \uc5b4\ub824\uc6cc\uc9c8 \uc218 \uc788\ub2e4.\u00a0\ud310\ub9e4(\uc18c\ube44)\uc138\uc5d0 \uadf8\ub9ac\uace0 \uc2ec\uc9c0\uc5b4\ub294 \uc778\ub450\uc138[\ud55c\uad6d\uc758 \uacbd\uc6b0\uc5d0\ub294 \uc8fc\ubbfc\uc138\uac00 \uc774\uc5d0 \ud574\ub2f9\ub41c\ub2e4\u2015\uc815\ub9ac\uc790]\uc5d0 \ud070 \uc555\ubc15\uc774 \uac00\ud574\uc9c8 \uc218\ub3c4 \uc788\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\"><strong>\uacb0\ub860<\/strong><\/p>\n<p class=\"0\" style=\"text-align: justify;\">\ube14\ub85d\uccb4\uc778 \ubc0f \uadf8\uc640 \uc5f0\uad00\ub41c \ud14c\ud06c\ub180\ub85c\uc9c0 \ubcc0\ud654\ub294 \ud604\uc7ac\uc758 \uacbd\uc81c\uc801 \uc870\uac74\uc744 \ub300\ub300\uc801\uc73c\ub85c \ud30c\uc5f4\uc2dc\ud0ac \uac83\uc774\ub2e4.\u00a0\uc0b0\uc5c5\ud601\uba85\uc740 \uc0ac\uc5c5\ubaa8\ub378\uc774 \uc704\uacc4\uc640 \uae08\uc735 \uc790\ubcf8\uc8fc\uc758\uc5d0 \uae30\ubc18\uc744 \ub450\ub294 \uc138\uacc4\ub97c \ub3c4\uc785\ud588\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778 \ud601\uba85\uc740 \uc778\uac04 \uc790\ubcf8\uc8fc\uc758 \ubc0f \uac1c\uc778\uc758 \ub354 \ud070 \uc790\uc728\uc131\uc5d0 \uc758\ud574 \uc9c0\ubc30\ub418\ub294 \uacbd\uc81c\ub97c \ubcf4\uac8c \ub420 \uac83\uc774\ub2e4.<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uad6c\uccb4\uc801\uc73c\ub85c \uc5b4\ub5bb\uac8c \uc804\uac1c\ub420\uc9c0\ub294 \ud604\uc7ac\ub85c\uc11c\ub294 \ubd88\ud655\uc2e4\ud558\ub2e4.\u00a0\uae30\uc5c5\uac00\ub4e4\uacfc \ud601\uc2e0\uac00\ub4e4\uc774 \uc5b8\uc81c\ub098 \uadf8\ub7ac\ub4ef\uc774 \uc2dc\ud589\ucc29\uc624\ub97c \ud1b5\ud574 \ubd88\ud655\uc2e4\uc131\uc744 \ud574\uc18c\ud560 \uac83\uc774\ub2e4.\u00a0\uc6b0\ub9ac\uac00 \uae30\uc5ec\ud558\ub294 \ubc14\ub294 \ud30c\uc5f4\uc774 \uc77c\uc5b4\ub0a0 \ub54c \uadf8\uac83\uc744 \ubd84\uba85\ud558\uac8c \ud558\ub294 \ub370 \ud65c\uc6a9\ub420 \uc218 \uc788\ub294 \ubaa8\ub378\uc744 \uba85\ud655\ud558\uac8c \uc774\ud574\ud558\uace0 \uc788\ub2e4\ub294 \uc810\uc774\ub2e4. \u2663<\/p>\n<table style=\"border-collapse: collapse; width: 100%;\" border=\"1\">\n<tbody>\n<tr>\n<td style=\"width: 100%;\">\n<p class=\"0\" style=\"text-align: justify;\">[\uc815\ub9ac\uc790\uc758 \ub367\uae00]<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uc774 \uae00\uc758 \uc800\uc790\ub4e4\uc740 \uc608\ub97c \ub4e4\uc5b4\u00a0\u2019\uc778\uac04 \uc790\ubcf8\uc8fc\uc758\u2018\ub77c\ub294 \uc5b4\ud718\ub97c \uc0ac\uc6a9\ud558\ub294 \ub370\uc11c \ubcfc \uc218 \uc788\ub4ef\uc774 \ube14\ub85d\uccb4\uc778\uc758 \ud601\uba85\uc131\uc744 \uc81c\ub3c4 \ucc28\uc6d0\uc5d0\uc11c \ubcf4\uba74\uc11c\ub3c4 \uadf8 \uad00\uc810\uc774 \ud655\uc5f0\ud788 \ud0c8\uc790\ubcf8\uc8fc\uc758\uc801\uc774\uc9c0\ub294 \uc54a\uc740 \ub4ef\ud558\ub2e4.\u00a0\uadf8\ub7ec\ub098 \uc5b4\ub5a4 \uae00\uc774\ub4e0 \uc911\uc694\ud55c \ud604\uc2e4\uc5d0 \ub300\ud55c \uc774\uc57c\uae30\uac00 \ub2f4\uaca8 \uc788\ub2e4\uba74 \uc5b4\ud718\ub098 \uad00\uc810\uc744 \ubb38\uc81c\ub85c \uc0bc\uc744 \ud544\uc694\ub294 \uc5c6\ub2e4.\u00a0\uc774 \uae00\uc758 \uc800\uc790\ub4e4\uc774 \ube14\ub85d\uccb4\uc778\uc744\u00a0\u2019\uad6d\uc81c\uc0c1\uad00\uc2b5\ubc95\u2018\uc758 \uc0c8\ub85c\uc6b4 \ubc84\uc804\uc73c\ub85c \ubcf8 \ubd80\ubd84\uc740 \ub124\uadf8\ub9ac\uc640 \ud558\ud2b8\uac00\u00a0\u300e\ub2e4\uc911\u300f(2004)\uacfc\u00a0\u300e\uacf5\ud1b5\uccb4\u300f(2009)\uc5d0\uc11c\u00a0\u2019\uad6d\uc81c\uc0c1\uad00\uc2b5\ubc95\u2018(lex mercatoria)\uc744 \uc5b8\uae09\ud55c \ub300\ubaa9\uc744 \ucc38\uc870\ud558\uba74\uc11c \uc77d\uc73c\uba74 \uc720\uc775\ud560 \ub4ef\ud558\ub2e4.\u00a0\u300e\uacf5\ud1b5\uccb4\u300f\uc758 \ud574\ub2f9 \ub300\ubaa9\uc740 \uc774\ub807\ub2e4.<\/p>\n<p class=\"2\" style=\"text-align: justify;\">\uc544\ubb34\ub3c4 \uac00\uac8c\ub97c \ub3cc\ubcf4\uc9c0 \uc54a\ub294\ub2e4\ub294 \ub9d0\uc740 \uc544\ub2c8\ub2e4.\u00a0\ub2e4\uc2dc \ub9d0\ud574\uc11c,\u00a0\uc804\uc9c0\uad6c\uc801 \uc790\ubcf8\uc774 \uc815\uce58\uc801\u00b7\ubc95\uc801\u00b7\uc81c\ub3c4\uc801 \uaddc\uc81c\uc640 \uc9c0\uc6d0 \uc5c6\uc774 \uae30\ub2a5\ud558\uace0 \uc788\ub2e4\ub294 \ub9d0\uc740 \uc544\ub2c8\ub2e4.\u00a0\uc804\uc9c0\uad6c\uc801\uc778 \uc790\ubcf8\uc8fc\uc758\uc801 \uad8c\ub825\uad6c\uc870\ub294 \uc2e4\uc81c\ub85c \uae30\ub2a5\ud558\uace0 \uc788\ub2e4.\u00a0\uadf8\ub7ec\ub098 \uadf8\uac83\uc740 \uc2dc\uc2a4\ud15c\uc758 \uc11c\ub85c \ub2e4\ub978 \uce35\uc704\ub4e4\uc744 \uac00\ub85c\uc9c8\ub7ec \uae30\uc6cc \uc5f0\uacb0\ub41c \uc7a0\uc815\uc801\uc774\uace0 \uc784\uc2dc\ubcc0\ud1b5\uc801\uc778 \uc131\uaca9\uc758 \uac83\uc774\ub2e4.\u00a0\ub2e4\ub978 \uacf3\uc5d0\uc11c \uc6b0\ub9ac\ub294 \uc804\uc9c0\uad6c\uc801 \uacbd\uc81c\uc758 \uad00\ub9ac\uc640 \uaddc\uc81c\uc758 \uc9c0\ud615\uc5d0\uc11c \ubc1c\uc804\ub418\uace0 \uc788\ub294 \ud2b9\uc218\ud55c \uba54\ucee4\ub2c8\uc998\ub4e4\uc758 \uc77c\ubd80\u2014\uc608\ub97c \ub4e4\uc5b4 \uc77c\uad6d\uc801 \ubc95\uccb4\uacc4\uac00 \uc81c\ub300\ub85c \uac10\ub2f9\ud558\uc9c0 \ubabb\ud558\ub294 \uacc4\uc57d\ub4e4\uc744 \uad00\ub9ac\ud558\uae30 \uc704\ud574\uc11c \uc61b \uad6d\uc81c\uc0c1\uad00\uc2b5\ubc95lex mercatoria\uc744 \uc7ac\ud574\uc11d\ud55c \uc0c8\ub85c\uc6b4 \ubc95\uc801 \uad00\ub840\u2014\ub97c \ud0d0\uad6c\ud55c \ubc14 \uc788\ub2e4. (382-383)<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uadf8\ub9ac\uace0\u00a0\u300e\ub2e4\uc911\u300f\uc5d0\uc11c \ub124\uadf8\ub9ac\uc640 \ud558\ud2b8\ub294 \uc790\uc2e0\ub4e4\uc774 \ud3ec\ucc29\ud574\ub0b8 \uc774\u00a0\u201c\uc61b \uad6d\uc81c\uc0c1\uad00\uc2b5\ubc95\uc744 \uc7ac\ud574\uc11d\ud55c \uc0c8\ub85c\uc6b4 \ubc95\uc801 \uad00\ub840\u201d\ub97c\u00a0\u201c\uc790\ubcf8\uc758 \uc790\uae30\uc9c0\ubc30\u201d\ub77c\uace0 \ubd80\ub978 \ubc14 \uc788\ub2e4.\u00a0\uadf8\ub7f0\ub370 \ub124\uadf8\ub9ac\uc640 \ud558\ud2b8\ub294 \ube14\ub85d\uccb4\uc778\uc758 \uc874\uc7ac\uc870\ucc28 \uc54c \uc218 \uc5c6\uc5c8\ub358 \uc774 \uc2dc\uc810\uc5d0\uc11c\u00a0(\ucd5c\ucd08\uc758 \ube14\ub85d\uccb4\uc778\uc774 \uad6c\uc0c1\ub41c \uac83\uc740\u00a02008\ub144\ub3c4\uc774\ub2e4)\u00a0\ub2e4\ub978 \uc694\uc778\ub4e4\uc744 \uace0\ub824\ud55c \uac83\ub9cc\uc73c\ub85c \uc774\ubbf8 \uc774\ub807\uac8c \ub9d0\ud588\ub2e4.<\/p>\n<p class=\"2\" style=\"text-align: justify;\">\uadf8\ub807\uc9c0\ub9cc,\u00a0\uc0c8\ub85c\uc6b4\u00a0\u2018\uad6d\uc81c\uc0c1\uad00\uc2b5\ubc95\u2019\u00a0\uc548\uc5d0\uc11c \ubc1c\uc804\ub41c \uc774\u00a0\u2018\uacc4\uc57d\uc744 \ud1b5\ud55c \ubc95\ub960\u2019\uc758 \uc77c\ubc18\uc131\uacfc \uae30\uc5c5\ud654\ub41c \ubc95\ub960\ud68c\uc0ac\ub4e4\uc758 \uad00\ub9ac \uc5ed\ub7c9\uc774 \uacfc\uc7a5\ub418\uc5b4\uc11c\ub294 \uc548 \ub41c\ub2e4.\u00a0\uc0ac\uc2e4\uc0c1 \uc790\ubcf8\uc758 \uc790\uae30\uc9c0\ubc30(self-rule)\ub77c\ub294 \uafc8\uc740 \ub9e4\uc6b0 \uc81c\ud55c\uc801\uc774\ub2e4. (\u300e\ub2e4\uc911\u300f, 233)<\/p>\n<p class=\"0\" style=\"text-align: justify;\">\uc774\uc81c \uc704 \uac8c\uc2dc\uae00\uc758 \uc800\uc790\ub4e4\uc5d0 \ub530\ub974\uba74 \ube14\ub85d\uccb4\uc778 \ud601\uba85\uc740 \uad6d\uac00\ub97c \ubd88\ud544\uc694\ud558\uac8c \ub9cc\ub4e6\uc73c\ub85c\uc368\u00a0\u201c\uc790\ubcf8\uc758 \uc790\uae30\uc9c0\ubc30(self-rule)\ub77c\ub294 \uafc8\u201d\uc744 \ud55c\ud3b8\uc73c\ub85c\ub294 \ub3d5\uace0 \ub2e4\ub978 \ud55c\ud3b8\uc73c\ub85c\ub294 \ud68c\uc0ac\ub4e4\uc744 \ub300\uccb4\ud568\uc73c\ub85c\uc368 \uc774 \uafc8\uc744 \ubb3c\uac70\ud488\uc73c\ub85c \ub9cc\ub4e4 \uc7a0\uc7ac\ub825\uc744 \uac00\uc9c4 \uc5b4\ub5a4 \uac83\uc774\ub2e4.\u00a0\uc774 \uc0c1\ubc18\ub418\ub294 \ub450 \uacbd\ud5a5\uc758 \uacf5\uc874\uc774 \uc5b4\ub5a4 \uadc0\uacb0\uc744 \ub0b3\uc744 \uac83\uc778\uac00\uc5d0 \ub300\ud574\uc11c \uc704 \uac8c\uc2dc\uae00\uc758 \uc800\uc790\ub4e4\uc740\u00a0\u201c\uad6c\uccb4\uc801\uc73c\ub85c \uc5b4\ub5bb\uac8c \uc804\uac1c\ub420\uc9c0\ub294 \ud604\uc7ac\ub85c\uc11c\ub294 \ubd88\ud655\uc2e4\ud558\u201d\uba70\u00a0\u201c\uae30\uc5c5\uac00\ub4e4\uacfc \ud601\uc2e0\uac00\ub4e4\uc774 \uc5b8\uc81c\ub098 \uadf8\ub7ac\ub4ef\uc774 \uc2dc\ud589\ucc29\uc624\ub97c \ud1b5\ud574 \ubd88\ud655\uc2e4\uc131\uc744 \ud574\uc18c\ud560 \uac83\u201d\uc774\ub77c\uace0 \ub9d0\ud588\ub2e4.\u00a0\uc774\uac83\uc774 \ud2c0\ub9b0 \ub9d0\uc740 \uc544\ub2d0 \uac83\uc774\ub2e4.\u00a0\uadf8\ub7f0\ub370 \ub098\ub77c\uba74 \uc5ec\uae30\uc5d0 \uac78\ub824\uc788\ub294 \ub9e4\uc6b0 \uc911\uc694\ud55c \uc2f8\uc6c0\uc758 \uacb0\uacfc\ub294 \ub2e4\uc911\/\ucee4\uba38\ub108\ub4e4\uc758 \ud22c\uc7c1\uc5d0 \ub2ec\ub824\uc788\ub2e4\uace0 \ub9d0\ud560 \uac83\uc774\ub2e4.\u00a0\ube14\ub85d\uccb4\uc778\uc758 \ub4f1\uc7a5\uc740 \uc790\ubcf8\uacfc \uad6d\uac00\uc758 \ud648\uadf8\ub77c\uc6b4\ub4dc\uc600\ub358 \ubc95,\u00a0\uad00\ub840,\u00a0\uaddc\uc81c,\u00a0\uacc4\uc57d\uc758 \uc601\uc5ed\uc774 \uacc4\uae09\ud22c\uc7c1\uc758 \uc9c0\ud615\uc73c\ub85c \ud3b8\uc785\ub418\uc5c8\uc74c\uc744 \uc758\ubbf8\ud55c\ub2e4.\u00a0\uc5ec\uae30\uc11c \uacc4\uae09\ud22c\uc7c1\uc774\ub780 \uc774\uc775\uc758 \ubd84\ubc30(\uc774\uc724 \ub300 \uc784\uae08\/\ubcf5\uc9c0\uc758 \ube44\uc728\uc758 \uacb0\uc815)\ub97c \ub458\ub7ec\uc2f8\uace0 \ubc8c\uc5b4\uc9c0\ub294 \uc2f8\uc6c0\uc744 \uac00\ub9ac\ud0a4\ub294 \uac83\uc774 \uc544\ub2c8\ub77c \uc804\ud600 \uc0c1\uc774\ud55c \ub450 \uc0b6\ud615\ud0dc\u2015\u00a0\uc0ac\uc801\uc778 \uac83(\uc790\ubcf8)\uacfc \uacf5\uc801\uc778 \uac83(\uad6d\uac00)\uc744 \uc911\uc2ec\uc73c\ub85c \uad6c\ucd95\ub418\ub294 \uc0b6\uc640 \uacf5\ud1b5\uc801\uc778 \uac83(\ucee4\uba3c\uc988)\uacfc \ud2b9\uc774\uc131(\uc790\uc728\uc801\uc774\uace0 \uc790\uc720\ub85c\uc6b4 \ub2e4\uc911)\uc744 \uc911\uc2ec\uc73c\ub85c \uad6c\ucd95\ub418\ub294 \uc0b6,\u00a0\ub354 \uac04\ub2e8\ud558\uac8c \ub9d0\ud558\uc790\uba74 \ub178\ub3d9\ub825\uc73c\ub85c\uc11c\uc758 \uc0b6\uacfc \uc790\uc720\ub85c\uc6b4 \uac1c\uc778\uc73c\ub85c\uc11c\uc758 \uc0b6\u2015\uc0ac\uc774\uc758 \uc2f8\uc6c0\uc744 \uac00\ub9ac\ud0a8\ub2e4.\u00a0\uc774 \uc2f8\uc6c0\uc740 \uc55e\uc73c\ub85c \uc778\ub958 \uc804\uccb4\uc758 \uc6b4\uba85\uc744 \uacb0\uc815\ud560 \uc911\uc694\ud55c \uc2f8\uc6c0\uc774\uba70 \uadf8 \uc2f8\uc6c0\uc758 \uc758\ubbf8\uc5d0 \uac78\ub9de\uc740 \uc790\uae30\uc778\uc2dd\uc774 \uae34\uc694\ud55c \uc2f8\uc6c0\uc774\ub2e4.\u00a0\ub530\ub77c\uc11c \ub3c8\uc744 \ub354 \ub9ce\uc774 \ubc88\ub2e4\ub4e0\uac00 \uc0dd\ud65c\uc218\uc900\uc774 \ub354 \ub192\uc544\uc9c4\ub2e4\ub4e0\uac00 \ubcf5\uc9c0\uac00 \ub354 \ub098\uc544\uc9c0\uae30\ub97c \ubc14\ub77c\ub294 \ub370 \uad6d\ud55c\ub420 \uc218 \uc5c6\ub294 \uc2f8\uc6c0\uc774\ub2e4.\u00a0\uc704 \uac8c\uc2dc\uae00\uc758 \uc800\uc790\ub4e4\uc774 \ub9d0\ud55c\u00a0\u201c\uae30\uc5c5\uac00\ub4e4\uacfc \ud601\uc2e0\uac00\ub4e4\u201d\uc744 \ub2e4\uc911 \ud639\uc740 \ucee4\uba38\ub108\uc5d0\uc11c \ubc30\uc81c\ud558\uc790\ub294 \ub9d0\uc740 \uacb0\ucf54 \uc544\ub2c8\ub2e4.\u00a0\uc774\ub4e4\uc758 \ud589\ub3d9\uc740 \ub9cc\uc77c \uadf8\uac83\uc774 \uc790\ubcf8\uacfc \uad6d\uac00\ub97c \ub300\uccb4\ud558\uace0 \uc790\uc728\uacfc \ud611\ub3d9\uc73c\ub85c \ub098\uc544\uac00\ub294 \uac83\uc774\ub77c\uba74 \ub2f9\uc5f0\ud788 \ub2e4\uc911 \ud639\uc740 \ucee4\uba38\ub108\ub85c\uc11c\uc758 \ud589\ub3d9\uc73c\ub85c \uac04\uc8fc\ub420 \uac83\uc774\ub2e4.\u00a0\ub2e4\uc911 \ud639\uc740 \ucee4\uba38\ub108\ub294 \uc77c\ub2e8\uc758 \uac1c\uc778\ub4e4(\uac1c\ubcc4\uc790\ub4e4)\uc744 \ud558\ub098\uc758 \uc9d1\ub2e8\uc73c\ub85c \ud3ec\uad04\ud558\ub294 \ubcf4\ud3b8\uc790\uac00 \uc544\ub2c8\ub77c \uac1c\uc778\ub4e4\uc758 \uc9d1\ub2e8\uc801 \ud589\ub3d9\uc758 \ud2b9\uc815 \uc131\uaca9\uc744 \ud45c\ud604\ud558\ub294 \uac1c\ub150\uc774\ub2e4.\u00a0\uc0ac\uc2e4 \ub124\uadf8\ub9ac\uc640 \ud558\ud2b8\ub294\u00a0\u300e\uc9d1\ud68c\u300f(Assembly, 2017)\uc5d0\uc11c\u00a0\uc0dd\uc0b0\uc758 \uc9c0\ud615\uc5d0\uc11c \uacc4\uae09\ud22c\uc7c1\uc744 \uc804\uac1c\ud560 \uc8fc\uccb4\ub4e4\ub85c\u00a0\u2018\ub2e4\uc911\uc758 \uae30\uc5c5\uac00\u2019\ub97c \uc81c\uc2dc\ud574\ub193\uace0 \uc788\uace0(<a href=\"http:\/\/commonstrans.net\/?p=982\"><u>http:\/\/commonstrans.net\/?p=982<\/u><\/a>)\u00a0\ucee4\uba3c\uc988 \ud65c\ub3d9\uac00 \ubc14\uc6b0\uc5d4\uc2a4 \ub4f1\ub3c4 \uc774\uc724\uc758 \ucd95\uc801\uc774 \uc544\ub2c8\ub77c \ucee4\uba3c\uc988\uc758 \ucd95\uc801\uc744 \ubaa9\uc801\uc73c\ub85c \ud558\ub294 \uac00\uce58\ucc3d\ucd9c\uc758 \uc0c8\ub85c\uc6b4 \uc0dd\ud0dc\uacc4\ub97c \uc81c\uc2dc\ud558\uace0 \uc788\ub2e4(<a href=\"http:\/\/commonstrans.net\/?p=732\">http:\/\/commonstrans.net\/?p=732<\/a>).<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\">\u00a0<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-bottom-right\"><a href=\"http:\/\/commonstrans.net\/index.php?rest_route=%2Fwp%2Fv2%2Fposts%2F1209&print=pdf\" class=\"pdfprnt-button pdfprnt-button-pdf\" target=\"_blank\"><img 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id=\"footnote_references_container_1209_1\" style=\"\"><table class=\"footnotes_table footnote-reference-container\"><caption class=\"accessibility\">References<\/caption> <tbody> \r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" id=\"footnote_plugin_reference_1209_1_1\" class=\"footnote_plugin_index pointer\" onclick=\"footnote_moveToAnchor_1209_1('footnote_plugin_tooltip_1209_1_1');\"><a role=\"button\" tabindex=\"0\" class=\"footnote_plugin_link\" ><span class=\"footnote_index_arrow\">&#8593;<\/span>1<\/a><\/th> <td class=\"footnote_plugin_text\">[\uc815\ub9ac\uc790] \uc800\uc790\ub4e4\uc740 \ube14\ub85d\uccb4\uc778 \ud14c\ud06c\ub180\ub85c\uc9c0\uac00 \uc0ac\ud68c, \uacbd\uc81c, \uc815\uce58, \ubc95\uc5d0 \ubbf8\uce58\ub294 \uc601\ud5a5\uc744 \uc5f0\uad6c\ud558\ub294 \uc138\uacc4 \ucd5c\ucd08\uc758 \uc0ac\ud68c\uacfc\ud559\uc5f0\uad6c\uc13c\ud130\uc778 RMIT Blockchain Innovation Hub\uc5d0 \uc18d\ud574 \uc788\ub2e4.<\/td><\/tr>\r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" id=\"footnote_plugin_reference_1209_1_2\" class=\"footnote_plugin_index pointer\" onclick=\"footnote_moveToAnchor_1209_1('footnote_plugin_tooltip_1209_1_2');\"><a role=\"button\" tabindex=\"0\" class=\"footnote_plugin_link\" ><span class=\"footnote_index_arrow\">&#8593;<\/span>2<\/a><\/th> <td class=\"footnote_plugin_text\">Hernandde Sotto, The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else, Basic Books, 2007.<\/td><\/tr>\r\n\r\n <\/tbody> <\/table> <\/div><\/div><script type=\"text\/javascript\"> function footnote_expand_reference_container_1209_1() { jQuery('#footnote_references_container_1209_1').show(); jQuery('#footnote_reference_container_collapse_button_1209_1').text('\u2212'); } function footnote_collapse_reference_container_1209_1() { jQuery('#footnote_references_container_1209_1').hide(); jQuery('#footnote_reference_container_collapse_button_1209_1').text('+'); } function 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Jason Potts1)[\uc815\ub9ac\uc790] \uc800\uc790\ub4e4\uc740 \ube14\ub85d\uccb4\uc778 \ud14c\ud06c\ub180\ub85c\uc9c0\uac00 \uc0ac\ud68c, \uacbd\uc81c, \uc815\uce58, \ubc95\uc5d0 \ubbf8\uce58\ub294 \uc601\ud5a5\uc744 \uc5f0\uad6c\ud558\ub294 \uc138\uacc4 \ucd5c\ucd08\uc758 \uc0ac\ud68c\uacfc\ud559\uc5f0\uad6c\uc13c\ud130\uc778 RMIT Blockchain Innovation Hub\uc5d0 \uc18d\ud574 \uc788\ub2e4. \uc6d0\ubb38 :\u00a0&#8220;The Blockchain Economy: A beginner\u2019s guide to institutional cryptoeconomics&#8220; (2017.09.27) \ubd84\ub958 : \ub0b4\uc6a9 \uc815\ub9ac \uc815\ub9ac\uc790 : \uc815\ubc31\uc218\u00a0 \ube14\ub85d\uccb4\uc778\uc758 \uc911\uc694\uc131\uc5d0 \ub300\ud55c \ub300\ubd80\ubd84\uc758 \uc124\uba85\uc774 \ube44\ud2b8\ucf54\uc778\uacfc \ud654\ud3d0\uc758 \uc5ed\uc0ac\uc5d0\uc11c \uc2dc\uc791\ud558\ub294\ub370 \ud654\ud3d0\ub294 \ube14\ub85d\uccb4\uc778\uc758 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[40,855,284],"tags":[858,860,306,861,859,863,447,862,476,864,598],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\ube14\ub85d\uccb4\uc778 \uacbd\uc81c : \ucd08\ubcf4\uc790\ub97c \uc704\ud55c \uc81c\ub3c4\uc801 \ud06c\ub9bd\ud1a0\uacbd\uc81c \uc548\ub0b4 - \ucee4\uba3c\uc988 \ubc88\uc5ed \ub124\ud2b8\uc6cc\ud06c<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/commonstrans.net\/?p=1209\" \/>\n<meta property=\"og:locale\" content=\"ko_KR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\ube14\ub85d\uccb4\uc778 \uacbd\uc81c : \ucd08\ubcf4\uc790\ub97c 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