Authors:
Kalliopi Kypriotaki
;
Efpraxia Zamani
and
George Giaglis
Affiliation:
Athens University of Economics and Business, Greece
Keyword(s):
Enterprise Architecture, Business Structure, Decentralization, Decentralized Autonomous Corporations, Innovation.
Abstract:
Inspired by the new technological advancements and the groundbreaking technology at the foundation of
cryptocurrencies, organizational structures are expected to evolve and new corporate structures to emerge,
based on full decentralization. We posit that the blockchain, i.e., the technology, system and protocol behind
and beyond the most popular digital crypto-currencies, will introduce decentralization in many manifestations
of our everyday life, especially in cases where an independent trusted third party is needed to ensure and
verify operations and transactions. This paper builds upon the blockchain technology and discusses how it
could enable fully decentralized forms of business structures to emerge; decentralized autonomous
corporations (DACs) are business entities totally based on code; running on the cloud, providing certain
services and creating value for their customers. Thus, we argue that DACs could prove a means of
decentralizing and automating decision making in organi
zations.
(More)