Exploiting Corporate Governance to Evaluate Blockchain Applications: A Comprehensive Framework

Abstract

Purpose: This paper proposes a comprehensive framework to assess real-world blockchain applications' potential outcomes using three corporate governance literature. Design/Methodology/Approach: Reviewing the most recent papers on the subject, the author draws upon existing and new case studies to outline overlapping areas between blockchain features and Corporate Governance (CG). Findings: Any blockchain type/relation has potentials and drawbacks. Recognizing and effectively addressing the relationship between the company and blockchain may prove useful in the management of a business. Failing at managing the blockchain integration can, on the other hand, be detrimental for the company. The present analysis supports the view that although the blockchain revolution aims to reduce the intermediaries, the blockchain oracles' limits will still grant a predominant role to human interaction. Practical Implications: More than contributing to the blockchain and corporate governance literature, this paper is focused on providing managers with an accessible overview of the outcomes of blockchain integration. If facing difficulties, the framework provided could help understand the motives behind the struggle and help find a way to overcome them. Originality/Value: To the best of the author's knowledge, no other paper attempted to study the overlapping areas between blockchain and the three corporate governance literature. Given the scarcity of blockchain papers relying on corporate governance, this study will provide an additional resource to draw upon.