Establishing blockchain policy Strategies for the governance of distributed ledger technology ecosystems Feb 28 2020 15:59 languageMoneyScience
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This paper dives into the challenges that blockchains and the broader distributed ledger technology landscapes pose, like privacy, performance, unpredictability, security, access to law enforcement mechanisms, and cryptocurrency as a new type of asset. The solutions discussed aim to establish some ground rules, which will allow organisations to establish governance structures that will help them navigate the technological landscape, while understanding some of the most important components of a strategic approach to policy.
The following high level strategies are suggested:
Technology – Organisations should adopt a technology-agnostic approach when looking to implement blockchain systems. Identities and data formats constitute core interoperability capabilities.
Governance – Organisations need to adopt flexible policies towards blockchain that are ready for a fast-paced and ever-changing technology landscape. Rigid polices risk becoming quickly outdated.
Governance – Organisations should lean more towards an innovative rather than risk-averse approach to blockchain, as the latter will be prohibitive to launching successful initiatives.