Search for: All records

As a foundational and disruptive technology with unique features, blockchains can provide distinct technology pushes for novel business models, strategies, processes, and applications. Revised or new business models can be iteratively refined and transformed to increasingly more detailed design and implementation models to be realized by applications supported by blockchains. Governance concerns with how decisions are made, implemented, and controlled. It is an important focal point of any model and process. Blockchain enables new governance opportunities that are trusted, decentralized, automated, accountable, secured, and privacy-protected. These opportunities can be used to analyze governance issues in constructing models, processes, and blockchain applications. Based on our prototyping experience in two permissioned blockchain platforms, we propose a framework of six governance attributes for constructing consortium blockchain applications: decision process, accountability and verifiability, trust, incentive, security and privacy, and effectiveness. The framework aids in exploring blockchain-created governance opportunities and driving future research.