A study on blockchain-based marketplace governance platform adoption: a multi-industry perspective

Abstract

Purpose Decentralised autonomous organisations (DAOs) are internet-native self-governing enterprises where individual groups, communities, agencies, consumers and providers work together using blockchain-led smart contracts (SCs). This study aims to examine the role of DAO marketplaces in technology-led autonomous organisation design for enterprise technology sourcing industries, with algorithmic trust and governance. Design/methodology/approach The authors examined the importance of an enterprise marketplace governance platform for technology sourcing using DAO as a decentralised/democratised business model. A total of 98 DAO products/services are evaluated across 11 industries that envisage DAO as a strategic choice for the governance of decentralised marketplace platforms. Findings The research findings validate how a DAO-led enterprise marketplace governance platform can create a cohesive collaboration between consumers (enterprises) and providers (solution vendors) in a disintermediated way. The proposed novel layered solution for an autonomous governance-led enterprise marketplace promises algorithmic trust-led, self-governed tactical alternatives to a strategic plan. Research limitations/implications The research targets multiple industry outlooks to understand decentralised autonomous marketplace governance and develop the theoretical foundation for research and extensive corporate suitability. Practical implications The research underpinnings boost the entrepreneurs’ ability to realise the practical potential of DAO between multiple parties using SCs and tokenise the entire product and service offerings over immutable ledger technologies. Originality/value To the best of the authors’ knowledge, this research is unique and the first of its kind to study the multi-industry role of algorithmic trust and governance in enterprise technology sourcing marketplaces driven by 98 decentralised and consensus-based DAO products across 11 industries.

Enhancing the democratic nature of voting processes within decentralized autonomous organizations

“…Saurabh et al (2023a) proposed digital business model canvas elements for DAOs. Saurabh et al (2023b) proposed a DAO-based solution for an enterprise marketplace. The results showed that such a solution can provide a cohesive collaboration between stakeholders, without relying on any third-party.…”

Blockchain governance and trust: A multi-sector thematic systematic review and exploration of future research directions

“… Data Governance, Surveillance, and IT [ 63 , 64 , 16 , 65 , 66 , 67 ] •Data governance using BCT ensures data privacy by providing a single shared ledger to service providers. Business and Corporate Governance [ 68 , 69 , 70 , 71 , 72 , 73 , [74] , [75] , [76] , 77 , 78 , 79 , 80 , 81 , 82 , 83 , 84 , 85 , 86 , 87 ] •Blockchain reduces the need for mediators, eases the exchange of documents and removes third party verification in supply chain management. •In corporate governance, BCT reduces proxy voting and assists in decision making for company shareholders.…”