From Corporate Governance to Crypto-Governance

13 Pages Posted: 12 May 2021

Date Written: May 12, 2021

Abstract

In this paper I examine governance from a corporate perspective and then apply some of those ideas to blockchain governance. There is no need to re-discover or reinvent governance. The principles of governance have been established and understood for a long time – what is new is blockchain technology. The technical innovation associated with blockchain masks some commonalities with the industrial economy. Organisations in need of governance are a nexus of contracts. Blockchain applications as organisations are a nexus of smart contracts. Once this perspective is adopted, it is very clear that blockchain governance cannot simply be a strategy to decentralise and then vote as a group on all decisions. I then explain why a hypothetical blockchain foundation would have concentrated control and would be a non-profit organisation.

Keywords: Blockchain, Governance, Corporate Governance

JEL Classification: G30, L20, L30, P11

Suggested Citation

Davidson, Sinclair, From Corporate Governance to Crypto-Governance (May 12, 2021). Available at SSRN: https://ssrn.com/abstract=3844304 or http://dx.doi.org/10.2139/ssrn.3844304

Sinclair Davidson (Contact Author)

RMIT University ( email )

124 La Trobe Street
Melbourne, 3000
Australia

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