Blockchain-Based Corporate Governance

MAX PLANCK INSTITUTE LUXEMBOURG FOR PROCEDURAL LAW (December 2019)

U of St. Thomas (Minnesota) Legal Studies Research Paper No. 19-10

45 Pages Posted: 30 Aug 2019

See all articles by Wulf A. Kaal

Wulf A. Kaal

University of St. Thomas, Minnesota - School of Law

Date Written: August 23, 2019

Abstract

Corporations and other forms of business organizations can be supplemented with blockchain-based agency constructs. Blockchain-based decentralized autonomous organizations (DAOs) expand the definition of the firm. On-chain DAO governance enables dynamic regulatory features that facilitate unprecedented decentralized regulatory solutions.

Keywords: Corporate Governance, Decentralized Autonomous Organization, Blockchain, Distributed Ledger Technology, Regulation, Protocols, Optimization, Efficiency, Governance, Dynamic Regulation, Principal-Agent, Emerging Technology, Agency Cost, Monitoring, Feedback Effects

JEL Classification: K20, K23, K32, L43, L5, O31, O32

Suggested Citation

Kaal, Wulf A., Blockchain-Based Corporate Governance (August 23, 2019). MAX PLANCK INSTITUTE LUXEMBOURG FOR PROCEDURAL LAW (December 2019) ; U of St. Thomas (Minnesota) Legal Studies Research Paper No. 19-10. Available at SSRN: https://ssrn.com/abstract=3441904 or http://dx.doi.org/10.2139/ssrn.3441904

Wulf A. Kaal (Contact Author)

University of St. Thomas, Minnesota - School of Law ( email )

MSL 400, 1000 La Salle Avenue
Minneapolis, MN Minnesota 55403-2005
United States

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