Different Types of Government and Governance in the Blockchain

Journal of Governance and Regulation / Volume 10, Issue 1, 2021

14 Pages Posted: 14 Jun 2021

Date Written: 2021

Abstract

This research work, a study was carried out on blockchain technology and its types, as well as the creation of new models of government and governance from the scope of an organization, infrastructure and platform. Governance and commercial models were addressed, based on standardization of data and legal frameworks. On the other hand, it showed how operational governance causes consequences in business models, whether with transactions, multi-signature, forks, consensus mechanism, smart contracts, tokenization, online dispute resolution and decentralized application. It was discovered that at least in current business models, private blockchain networks are more useful than public networks because they have greater operational flexibility and data governance, without exempting that public networks must also have mechanisms of governance since sometimes a human consensus must be reached to make updates to protocols and technical rules. This paper shows the basic principles that must be observed about governance and regulation in the implementation of blockchain technologies in systems created by governments, corporations and/or organized civil societies.

Keywords: Blockchain, Government, Governance, Decentralized Autonomous Organization

Suggested Citation

Llamas Covarrubias, Jersain Zadamig and Llamas Covarrubias, Irving Norehem, Different Types of Government and Governance in the Blockchain (2021). Journal of Governance and Regulation / Volume 10, Issue 1, 2021, Available at SSRN: https://ssrn.com/abstract=3859793

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