Abstract

Autonomous systems (ATS) enabled by blockchain and artificial intelligence are hailed to revolutionize our lives and economy. However, ethical concerns and a lack of trust in machines making decisions on their own may explain why these systems are not yet embraced in large scale implementations. In blockchain-based ATSs, doubts have been fueled by failures of large crypto projects believed to be secure, such as the meltdown of the Terra/Luna algorithmic stablecoin (ASC). In this research, we analyze the failure of this ASC system through the lens of mindfulness using secondary data like the project’s whitepaper and an interview with its chief executive officer. Hence, we make two contributions: First, we explore and argue for the possibility to mindfully design and operate ATSs as digital high reliability organizations. Second, we build a punctuated equilibrium model of mindfulness in systems. We thus extend the understanding of the design and management of ATSs.

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