Annals of Corporate Governance > Vol 5 > Issue 2

Decentralized Corporate Governance via Blockchain Technology

By Wulf A. Kaal, University of Saint Thomas School of Law, USA, Kaal8634@stthomas.edu

 
Suggested Citation
Wulf A. Kaal (2020), "Decentralized Corporate Governance via Blockchain Technology", Annals of Corporate Governance: Vol. 5: No. 2, pp 101-147. http://dx.doi.org/10.1561/109.00000025

Publication Date: 10 Jun 2020
© 2020 Wulf A. Kaal
 
Subjects
Computational problems,  Industrial organization,  Bounded rationality,  Game theory,  Corporate governance,  Corporate entrepreneurship,  Firm ownership,  Corporate finance
 
Keywords
K20, K23, K32, L43, L5, O31, O32
decentralized autonomous organization, blockchain, distributed ledger technology, regulation, protocols, optimization, efficiency, governance, dynamic regulation, principal-agent, emerging technology, agency cost, monitoring, feedback effects
 

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In this article:
1. Introduction 
2. Business Organization Revisited 
3. Governance Shortcomings in DAOs 
4. Dynamic Governance in Decentralized Systems 
5. Optimizing DAO Governance 
6. Reforming Corporate Governance 
7. Conclusion 

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.

DOI:10.1561/109.00000025

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ISBN: 978-1-68083-676-9
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Table of contents:
1. Introduction
2. Business Organization Revisited
3. Governance Shortcomings in DAOs
4. Dynamic Governance in Decentralized Systems
5. Optimizing DAO Governance
6. Reforming Corporate Governance
7. Conclusion

Decentralized Corporate Governance via Blockchain Technology

Decentralized Corporate Governance via Blockchain Technology explains how corporations and other 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.

 
ACG-025