Integration of ontologies with decentralized autonomous organizations development: A systematic literature review

This paper presents a systematic literature review of the integration of ontologies into the Decentralized Autonomous Organization (DAO) development process. The review extracted data from 34 primary studies dealing with ontologies in the blockchain domain. DAO has become a key concept for the development of blockchain-based decentralized software systems. DAOs are seen as a positive alternative for organizations interested in the adoption of decentralized, reliable and transparent governance, as well as attracting the interest of academic research. However, there is no common understanding or generally accepted formal definition of a DAO, and the guidelines that provide support for the adoption and development of DAOs are limited to a few key references that lack the computational semantics needed to enable their automated validation, simulation or execution. Thus, the objective of this paper is to provide an unbiased and up-to-date review related to the integration of ontologies within DAOs which helps to identify new research opportunities and take advantage of this integration from a blockchain-based decentralized perspective

The Machine-to-Everything (M2X) Economy: Business Enactments, Collaborations and e-Governance

Nowadays, business enactments almost exclusively focus on human-to-human business transactions. However, the ubiquitousness of smart devices enables business enactments among autonomously acting machines, thereby providing the foundation for the machine-driven Machine-to-Everything (M2X) Economy. Human-to-human business is governed by enforceable contracts either in the form of oral, or written agreements. Still, a machine-driven ecosystem requires a digital equivalent that is accessible to all stakeholders. Additionally, an electronic contract platform enables fact-tracking, non-repudiation, auditability and tamper-resistant storage of information in a distributed multi-stakeholder setting. A suitable approach for M2X enactments are electronic smart contracts that allow to govern business transactions using a computerized transaction protocol such as a blockchain. In this position paper, we argue in favor of an open, decentralized and distributed smart contract-based M2X Economy that supports the corresponding multi-stakeholder ecosystem and facilitates M2X value exchange, collaborations, and business enactments. Finally, it allows for a distributed e-governance model that fosters open platforms and interoperability. Thus, serving as a foundation for the ubiquitous M2X Economy and its ecosystem

The Machine-to-Everything (M2X) economy: business enactments, collaborations, and e-governance

Nowadays, business enactments almost exclusively focus on human-to-human business transactions. However, the ubiquitousness of smart devices enables business enactments among autonomously acting machines, thereby providing the foundation for the machine-driven Machine-to-Everything (M2X) Economy. Human-to-human business is governed by enforceable contracts either in the form of oral, or written agreements. Still, a machine-driven ecosystem requires a digital equivalent that is accessible to all stakeholders. Additionally, an electronic contract platform enables fact-tracking, non-repudiation, auditability and tamper-resistant storage of information in a distributed multi-stakeholder setting. A suitable approach for M2X enactments are electronic smart contracts that allow to govern business transactions using a computerized transaction protocol such as a blockchain. In this position paper, we argue in favor of an open, decentralized and distributed smart contract-based M2X Economy that supports the corresponding multi-stakeholder ecosystem and facilitates M2X value exchange, collaborations, and business enactments. Finally, it allows for a distributed e-governance model that fosters open platforms and interoperability. Thus, serving as a foundation for the ubiquitous M2X Economy and its ecosystem

Trust in “Trust-free” Digital Networks: How Inter-firm Algorithmic Relationships Embed the Cardinal Principles of Value Co-creation

In this exploratory research, I develop new knowledge on trust in inter-firm cooperation that leverages recent technologies such as blockchain and the Internet of things in a digital platform ecosystem. In a digital network, advanced algorithms govern and shape inter-firm business processes. While such algorithms introduce efficiency in inter-firm business processes, their limitations, especially their apparent lack of transparency, may affect the key trust dimensions (i.e., reliability, fairness, and goodwill) in the relationships among the participating firms. I introduce algorithmic relationship, a label that embeds the concepts of smart contracts in inter-firm cooperation. Algorithmic relationships involve autonomous and semi-autonomous implementations of smart contracts in all lifecycle stages of inter-firm cooperation. By analyzing extant literature on trust, inter-firm cooperation, business model innovation, and digital platforms, I demonstrate how various factors influence whether firms adopt smart contracts: perceptions about other participants’ trustworthiness, participants’ own propensity to trust, participants’ shared goals and resource embeddedness in the network, perceived risks in inter-firm interactions, and complexity and time criticality of inter-firm interactions. Taking a temporal perspective, I also recognize the present lacunae with smart contracts from various perspectives (algorithm development, algorithm implementation, algorithm governance, and the availability of appropriate legal resources in the event that disputes occur) and demonstrate how these drawbacks impede shared value creation

Decentralized Autonomous Organizations and Decentralized Finance, A Bibliometric and Content Analysis

Decentralized Autonomous Organizations (DAOs) present a new technological advancement that may pose a challenge to traditional organizations in terms of governance and decision-making. DAOs offer a novel approach to organization and collaboration by implementing a decentralized, immutable, and trustless system. These organizations run on blockchain technology through the use of smart contracts, enabling autonomous and self-executing operations. Despite their potential, DAOs still face uncertainties regarding their security, governance, and scalability, among other challenges. To determine research gaps and aid in the successful development of DAOs, this paper conducts a bibliometric and content analysis, which is currently missing from existing literature, to provide structural support for this process. This paper identifies the most significant research streams and influential articles on DAOs, providing a comprehensive overview of the current state of this field. Moreover, it investigates the performance of major Decentralized Finance (DeFi) DAOs in light of these research streams, offering insights into their practical applications and effectiveness. To facilitate future research in this domain, the paper proposes several research questions for each identified research stream. These questions aim to address gaps in the current understanding of DAOs, paving the way for novel research that can contribute to the development and enhancement of this innovative technology

Tokens Matter: How to Win Votes and Influence DAOs

In the span of just a few years, decentralized autonomous organizations (DAOs) have grown into a high-value form of organization. A growing body of IS literature examines the decentralized, transparent, and equitable design of these organizations. DAO governance is commonly mediated using ‘governance tokens’ in a one-token-one-vote system. However, the inconspicuous role of tokens for DAO governance is rarely investigated. We present preliminary findings from a netnographic study of controversial decision-making processes in two large DAOs. Our cases reveal how top holders of tokens leverage their favorable position to enact unpopular decisions unilaterally. The findings indicate a discrepancy between the espoused values and enacted practices of DAO governance, as economic capital rather than social capital investment becomes the primary determinant of voting power. We examine emerging alternative voting systems and offer a framework for parsing these new initiatives. Contributions to the literature and future work are discussed

Technology-based inter-organisational relationships: new insights for social and innovation implications

This research expands theoretical and empirical understanding about the social and innovation implications of smart contracting on inter-organisational relationships. Smart contracting is a digital agreement recorded on blockchain and able to autonomously execute actions when encoded conditions are satisfied. Using the social capital perspective, authors analysed insights collected from field experts and executives of firms that either use this technology or facilitate its implementation. The findings revealed that smart contracting directly affects the formation and structure of inter-organisational social capital, which can subsequently contribute to innovation performance. Authors developed an evidence-based model that critically integrates factors influencing the relationship between social capital and innovation performance in the smart contracting settings. Interestingly, system trust, as trust in technology, is found to be the key contextual factor, driving most aspects of technology-based inter-organisational collaborations. The research advances our understanding of how inter-organisational relationships can evolve in the technology-based settings

How do Web 3.0, blockchain- and token-based businesses create and capture value?

The development of technology is constantly being driven forward. With that companies are in the need to adapt their business model to certain technologies to optimize their economic value. In the age of Web 3.0, blockchain technology and the possibilities and risk that come with decentralized applications and digital currencies plays a central role in the current state of technological development. Hence, it is of utmost importance to understand how this technology is used or can be used to optimize the company’s activities. This thesis aims to gain knowledge about the way businesses utilize blockchain technology to gain economic value. For that, the following research question has been examined: How do Web 3.0, blockchain- and token-based businesses create and capture value? To answer the question, existing literature about blockchain and business models has been reviewed and semi-structured interviews have been carried out. Specifically, the study looks at areas or existing business problems for which solutions can be found through the application or support of blockchain technology to generate or optimize economic value. Therefore, current literature as well as information collected through semi-structured interviews with four experts, founders, and employees in the German blockchain space have been analyzed. The research shows that the technology currently finds the most use in the financial sector and supply chain management, in which in a B2B relationship the value is created through offering a blockchain-based service network to improve security and transparency and the value is mostly captured through charging fees for that service.A fim de maximizar o seu valor económico, as empresas precisam de adaptar o seu modelo de negócio ao desenvolvimento de certas tecnologias. Na era Web 3.0, a tecnologia blockchain e as suas possibilidades e riscos, consequência de aplicações descentralizadas e moedas digitais, têm um papel importante no desenvolvimento tecnológico atual. Portanto, é da maior importância entender como esta tecnologia pode ser utilizada para melhorar as atividades das empresas. Esta dissertação tem como objetivo entender como é que as empresas utilizam a tecnologia blockchain de forma a obter valor económico. Para tal, a seguinte pergunta de investigação será analisada: Como é que a Web 3.0, Blockchain e empresas baseadas em tokens criam e obtêm valor? Para responder a esta pergunta, recorreu-se a literatura sobre blockchain e modelos de negócio, e foram realizadas entrevistas semiestruturadas. Este estudo analisa áreas ou problemas de empresas, para os quais é possível encontrar uma solução através da implementação ou ajuda da tecnologia blockchain de modo a gerar ou otimizar valor económico. Assim sendo, e para além da literatura, foi analisada a informação obtida através de entrevistas semiestruturadas com quatro especialistas, fundadores e funcionários do espaço blockchain alemão. Este estudo demonstra que esta tecnologia tem atualmente bastante utilidade no setor financeiro e na gestão de cadeia logística onde, numa relação B2B o valor é criado através da oferta de um serviço baseado em rede blockchain para melhorar a segurança e transparência, sendo que o valor é maioritariamente obtido através das taxas cobradas por esse serviço