BLOCKCHAIN – A REVOLUTIONARY SOLUTION TO PROBLEMS OF MODERN CORPORATE GOVERNANCE

In this paper, we discuss different ways to solve several long outstanding problems in corporate governance with the help of a revolutionary technology – the blockchain. Agency problems, asymmetry of information in the financial markets, transparency of corporate governance, corporate voting systems, and the decision-making process all can be significantly improved if the blockchain is properly implemented in the financial markets and in corporate accounting systems. Further we discuss a theoretical possibility to combine the wisdom of crowd principle and the blockchain’s transparency and immutability characteristics to create a new type of organizations – Decentralized Autonomous Organizations. The DAO concept may not be viable in its pure form but can be adapted for utilization in conventional organizations to improve the accuracy of cash flow and risk valuation and certain corporate routines such as choosing between different investment projects.

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Золото. Курс в евро, долларах и гривне.