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Cited by 688Blockchain Technology Applications and SecurityInformation Technology Governance and StrategyOutsourcing and Supply Chain Management

Governance in the Blockchain Economy: A Framework and Research Agenda

Open access
IT University of Copenhagen, Beck, Roman, Müller-Bloch, Christoph, IT University of Copenhagen, King, John Leslie, University of Michigan·2018·Journal of the Association for Information Systems
DOI 10.17705/1jais.00518
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Abstract

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. Our case study of a DAO illustrates that governance in the blockchain economy may depart radically from established notions of governance. Using the three governance dimensions, we propose a novel IT governance framework and a research agenda for governance in the blockchain economy. We challenge common assumptions in the blockchain discourse, and propose promising information systems research related to these assumptions.

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  • Traditional IS governance models, grounded in centralized control and hierarchical structures, are jolted by the innately decentralized, distributed, and self-governing ethos of blockchain technology.

    “Traditional IS governance models, grounded in centralized control and hierarchical structures, are jolted by the innately decentralized, distributed, and selfgoverning ethos of blockchain technology (Beck et al., 2018; Lumineau et al., 2021).”

    From Sustaining the Crypto Commons: A Configurational Systems Perspective on Blockchain and Cryptocurrency Governance (2024) · cites this paper as Beck et al., 2018

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Research works printed but not linked: 33

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Cited by

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Authors
IT University of Copenhagen, Beck, R., Müller-Bloch, C., IT University of Copenhagen, King, J. L., & University of Michigan
Affiliations
  • IT University of Copenhagen (DK)
  • University of Michigan (US)
Corresponding author
King, John Leslie
ORCID
Venue
Journal of the Association for Information Systems
Publisher
Association for Information Systems
Published
2018
Pages
1020-1034
ISSN
1536-9323 (ISSN-L)
DOI
10.17705/1jais.00518
OpenAlex
W2904264105
Cited by
688
References
6
Citations by year
2026: 51 · 2025: 85 · 2024: 99 · 2023: 104 · 2022: 136 · 2021: 96 · 2020: 69 · 2019: 40 · 2018: 8
FWCI
85.93
Type
journal article
Language
en
Open access
Licence
other-oa
Locations
  • Journal of the Association for Information Systems (publishedVersion)
  • IT University Of Copenhagen (IT University of Copenhagen) (submittedVersion, other-oa)
  • Journal of the Association for Information Systems (submittedVersion)
Topics
  • Physical Sciences › Computer Science › Information Systems › Blockchain Technology Applications and Security
  • Social Sciences › Business, Management and Accounting › Management Information Systems › Information Technology Governance and Strategy
  • Social Sciences › Business, Management and Accounting › Management Information Systems › Outsourcing and Supply Chain Management
Keywords
blockchain governance, decentralized autonomous organizations, smart contracts, IT governance framework, decision rights, accountability, incentives, organizational design

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