The nexus of blockchain and governance: A use case of blockchain on trade finance (original) (raw)
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Having both opportunities and threats, blockchain is inevitably a game-changer disruptive innovation in our time. It keeps penetrating a wide scope of areas including banking, insurance, supply chain, trade finance and many more. During this penetration, it both affects and is affected by traditional governance mechanisms. Like the evolution of traditional governance mechanisms from shareholder to stakeholder model, blockchain technology advances towards optimizing the reciprocal effects of on-chain and off-chain governance. Based on the sophisticated and technology-dominated papers in the literature, this study handles blockchain governance by focusing on both technical and economic aspects of the concept. By analyzing different features of blockchain governance, we come up with the view that technical and economic success seems to be the highest in a hybrid governance structure at this stage
(2019). A Conceptual View of Blockchain and Governance Dede D. 3rd World Conference on Technology, Innovation and Entrepreneurship, İstanbul, Türkiye, 21 - 23 Haziran 2019, ss.30 , 2019
#bizsizitanıyoruz Biz sizi, her zorluğa meydan okuyuşunuzdan, şartlar ne olursa olsun dik duruşunuzdan ve birlikte çok güzel oluşunuzdan tanıyoruz. Biz size inanıyoruz, sizi her zaman destekliyoruz.
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The article elaborates on the potential of blockchain technology to transform governance in different sectors of economy. The research primarily relies on rich empirical data that have been collected from semistructured interviews and focus group studies with professional blockchain developers. In this regard, the article aims to answer the following questions: How could blockchain governance conceptually work? How could one illustrate schematically key principles of its implementation? What are the key features of blockchain governance? Why are they important? What benefits could the concept bring to different sectors of economy if its potential is realized? What are the typical barriers and limitations of blockchain governance? What could be recommended to overcome them?
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Blockchain technology comes with the promise of being a disruptive technology with the potential for novel ways of interaction in a wide range of applications. Following broader application, scholarly interest in the technology is growing, though an extensive analysis of blockchain applications from a governance perspective is lacking to date. This research pays special attention to the governance of blockchain systems and illustrates decision problems in 14 blockchain systems from four application domains. Based on academic literature, semi-structured interviews with representatives from those organizations, and content analysis of grey literature, common problems in blockchain governance have been singled out and contextualized. Studying their enactment revealed their relevance to major organizational theories in what we labelled "Patrolling the borders", "External Legitimation", "Reduction of Discretionality", and "Temporal Management". The identification of these problems enriches the scarce body of knowledge on the governance of blockchain systems, resulting in a better understanding of how blockchain governance links to existing concepts and how it is enacted in practice.
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The recent emergence of blockchains may be considered a critical turning point in organizing collaborations. We outline the historical background and the fundamental features of blockchains and present an analysis with a focus on their role as governance mechanisms. Specifically, we argue that blockchains offer a way to enforce agreements and achieve cooperation and coordination that is distinct from both traditional contractual and relational governance as well as from other information technology solutions. We also examine the scope of blockchains as efficient governance mechanisms and highlight the tacitness of the transaction as a key boundary condition. We then discuss how blockchain governance interacts with traditional governance mechanisms in both substitutive and complementary ways. We pay particular attention to blockchains’ social implications as well as their inherent challenges and limitations. Our analysis culminates in a research agenda that explores how blockchains m...
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Blockchain Technology is considered as a general-purpose technology with far reaching effects. As can be seen from the discussions on blockchain applications, both practitioners and researchers struggle to get to the core of blockchain technology consequences. Especially practitioners in the governmental sector explore adequate responses to this new technology. Therefore, our aim is to provide a conceptualization of the consequences of blockchain systems from an institutional perspective, and to use this conceptualization to provide insights into the governance of blockchain systems. We use a Grounded Theory approach to conceptualize the institutional consequences of blockchain technology. This approach leads to our core category: power transfer in environments with highly institutionalized values. This core category supports the synthetization of the governance issues related to blockchain systems. We conclude that the controlling powers that were formerly vested in highly institut...
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