MUELLER-BLOCH Christoph, BECK Roman, KING John Leslie
Blockchain technology is often referred to as a groundbreaking innovation and the harbinger of a new economic era. Blockchains may be capable of engendering a new type of economic system: the blockchain economy. In the blockchain economy, agreed-upon transactions would be enforced autonomously, following rules defined by smart contracts. The blockchain economy would manifest itself in a new form of organizational design—decentralized autonomous organizations (DAO)—which are organizations with governance rules specified in the blockchain. We discuss the blockchain economy along dimensions defined in the IT governance literature: decision rights, accountability, and incentives.
BECK, R., MUELLER-BLOCH, C. et KING, J.L. (2018). Governance in the Blockchain Economy: A Framework and Research Agenda. Journal of the Association for Information Systems, 19(10), pp. 1020-1034.