Open AccessDifferent types of government and governance in the blockchain
Author(s) -
Jersain Zadamig Llamas Covarrubias,
Irving Norehem Llamas Covarrubias
Publication year - 2021
Publication title -
journal of governance and regulation
Language(s) - English
Resource type - Journals
eISSN - 2306-6784
pISSN - 2220-9352
DOI - 10.22495/jgrv10i1art1
Subject(s) - blockchain , corporate governance , business , government (linguistics) , flexibility (engineering) , standardization , civil society , scope (computer science) , industrial organization , computer security , economics , computer science , political science , law , finance , management , linguistics , philosophy , politics , programming language
This research work, a study was carried out on blockchain technology and its types, as well as the creation of new models of government and governance from the scope of an organization, infrastructure and platform. Governance and commercial models were addressed, based on standardization of data and legal frameworks. On the other hand, it showed how operational governance causes consequences in business models, whether with transactions, multi-signature, forks, consensus mechanism, smart contracts, tokenization, online dispute resolution and decentralized application (World Economic Forum, 2020, pp. 97 196). It was discovered that at least in current business models, private blockchain networks are more useful than public networks because they have greater operational flexibility and data governance, without exempting that public networks must also have mechanisms of governance since sometimes a human consensus must be reached to make updates to protocols and technical rules (The Law Society, 2020, pp. 24-61). This paper shows the basic principles that must be observed about governance and regulation in the implementation of blockchain technologies in systems created by governments, corporations and/or organized civil societies.