Leveraging Blockchain Technology for Improving the Quality of Corporate Governance

Abstract

Blockchain technology allows secured exchange (peer to peers) with the consensus-based algorithm. Corporate governance focuses on the governance of corporate data through a secure mechanism. This paper aims to interpret the possibility of a robust corporate governance mechanism through blockchain technology to eliminate the chances of corporate fraud. There are multiple uses of Blockchain in cooperate governance. Authors have discussed how shared information consensus prevents possible losses to fraud embezzlement. Boardroom practices to disclosures, blockchain technology, and distributed ledger technology hold a strong possibility of implementing it. Past studies have stressed the impact of technology on corporate governance and the positive relationship between blockchain technology and governance. Taking the lead from antecedents, the authors have elaborated on leveraging blockchain technology for improved corporate governance in the present study. The paper uniquely explores the application of blockchain technology for sound corporate governance which provides potential for direct application by organizations globally.