Blockchain Technology for Corporate Responsibility

Abstract

It has been acknowledged that blockchain technology has the ability to change company governance. The first section of this chapter addresses the ongoing issues with agency expenses, inefficiencies, and the need for more openness. After that, it looks at how blockchain technology has emerged as a possible remedy, providing a fresh, decentralized method of corporate governance. The examination highlights the tension between the technology's potential for more openness and the emergence of privacy issues as it discusses how it is used to share registers, trading, voting, and accounting procedures. Critical analysis is given to contentious issues including the danger to current shareholder activism and the governance of blockchain technology. To solve these problems, solutions such as regulatory nodes and hybrid blockchain architectures are put forward. The chapter ends with a forward-looking viewpoint on decentralized autonomous organizations (DAOs), which represent a new paradigm in corporate governance and are an inventive substitute for conventional corporate structures.