Complex Adaptive Blockchain Governance

Thomas, John; Mantri, Pam

doi:10.1051/matecconf/201822301010

Cited by 22 publications

(10 citation statements)

References 36 publications

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“…This theory is especially helpful in incorporating modern information system architecture design into traditional property law. There is a growing incompatibility between traditional property theory and modern technology progresses (Libling, 1973;Johnsont, 2007). Additionally, intangible properties have been facing many obstacles integrating with traditional viewpoints.…”

Section: Ownership and Property Rightsmentioning

confidence: 99%

What if properties are owned by no one or everyone? foundation of blockchain enabled engineered ownership

Wang¹,

Jens²,

Daniel³

2022

Computing in Construction

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Blockchain and smart contracts enable the network of hybrid autonomous human and machine agents. In this paper, we propose the concept of engineered ownership, a blockchain-based socio-technical governance system. A system of coded rules that defines the boundaries, shapes incentives and distributes rights among such autonomous agents. To lay a foundation for engineered ownership, we first study the nature of ownership by examining the concept of property. Shaped by history and ideologies, property rights are the most formalized and studied ownership system. We then untangle the layered structures and system design impacts of property by investigating three property rights theories. Finally, we derive from these learnings the system features of engineered ownership, identify related challenges, and present a roadmap towards a holistic theory of engineered ownership.

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Section: Ownership and Property Rightsmentioning

confidence: 99%

What if properties are owned by no one or everyone? foundation of blockchain enabled engineered ownership

Wang¹,

Jens²,

Daniel³

2022

Computing in Construction

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“…3 (25), process (25), platform (24), participate (21), control (19), and network (18). To better understand blockchain governance, seven studies adapt theories of governance from other domains, including IT governance [5,6,7], corporate governance [8,9], complex adaptive systems [10], and formal political economy [11].…”

Section: Rq1: What Is Blockchain Governance?mentioning

confidence: 99%

A Systematic Literature Review on Blockchain Governance

Liu¹,

Lu²,

Zhu³

et al. 2021

Preprint

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Blockchain has been increasingly used as a software component to enable decentralisation in software architecture for a variety of applications. Blockchain governance has received considerable attention to ensure the safe and appropriate use and evolution of blockchain, especially after the Ethereum DAO attack in 2016. To understand the state-of-the-art of blockchain governance and provide an actionable guidance for academia and practitioners, in this paper, we conduct a systematic literature review, identifying 34 primary studies. Our study comprehensively investigates blockchain governance via 5W1H questions.The study results reveal several major findings: 1) the adaptation and upgrade of blockchain are the primary purposes of blockchain governance, while both software quality attributes and human value attributes need to be increasingly considered; 2) blockchain governance mainly relies on the project team, node operators, and users of a blockchain platform; and 3) existing governance solutions can be classified into process mechanisms and product mechanisms, which mainly focus on the operation phase over the blockchain platform layer.

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“…However, even though blockchain smart contracts provide many benefits, there are fundamental issues that should be resolved, one of which is the Oracle Paradox. A blockchain Oracle is defined as an entity or agent that retrieves and authenticates information and data feeds from the physical world and provides them to the blockchain for smart contracts to execute (John and Pam 2018;Waelbroeck 2018;Blockchainhub.net 2019). The purpose for Oracles stems from the need of input for smart contracts to verify the conditions fulfillment to comply with the terms of the contract (Asolo 2018).…”

Section: The Oracle Paradoxmentioning

confidence: 99%

Trust but Verify: The Oracle Paradox of Blockchain Smart Contracts.

Appelbaum¹

2020

Preprint

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Although research shows that blockchain provides fairly immutable virtual provenance workflows, proof that the Blockchain accurately represents physical events lacks truly independent verification. This dilemma, the Oracle Paradox, challenges blockchain architecture and is perhaps one reason why businesses have hesitated to adopt smart contracts. Blockchain proponents claim that people can serve as trusted Oracles in a smart contract. However, auditing research shows that people are the weak link in almost every internal control application, including those pertaining to blockchain. People are susceptible to collusion, bribery, error, and fraud and these tendencies are not entirely mitigated by blockchain technologies (Balagurusamy et al. 2019; Nakamoto 2008). This research proposes a framework to mitigate the paradox of the Oracle: A Business Process Management (BPM) model of a Blockchain Smart Contract-enabled Supply Chain with IoT as the sole "third-party" Oracle participant, utilizing Design Science research.

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Complex Adaptive Blockchain Governance

Cited by 22 publications

References 36 publications

What if properties are owned by no one or everyone? foundation of blockchain enabled engineered ownership

What if properties are owned by no one or everyone? foundation of blockchain enabled engineered ownership

A Systematic Literature Review on Blockchain Governance

Trust but Verify: The Oracle Paradox of Blockchain Smart Contracts.

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