The fragility of decentralised trustless socio-technical systems

The blockchain technology promises to transform finance, money and even governments. However, analyses of blockchain applicability and robustness typically focus on isolated systems whose actors contribute mainly by running the consensus algorithm. Here, we highlight the importance of considering trustless platforms within the broader ecosystem that includes social and communication networks. As an example, we analyse the flash-crash observed on 21st June 2017 in the Ethereum platform and show that a major phenomenon of social coordination led to a catastrophic cascade of events across several interconnected systems. We propose the concept of “emergent centralisation” to describe situations where a single system becomes critically important for the functioning of the whole ecosystem, and argue that such situations are likely to become more and more frequent in interconnected socio-technical systems. We anticipate that the systemic approach we propose will have implications for future assessments of trustless systems and call for the attention of policy-makers on the fragility of our interconnected and rapidly changing world

Exploring Blockchain Governance

Blockchain systems continue to attract significant interest from both practitioners and researchers. What is more, blockchain systems come in various types, such as cryptocurrencies or as inter-organizational systems in business networks. As an example of a cryptocurrency, Bitcoin, one of the most prominent blockchain systems to date and born at the time of a major financial crisis, spearheaded the promise of relying on code and computation instead of a central governing entity. Proponents would argue that Bitcoin stood the test of time, as Bitcoin continues to operate to date for over a decade. However, these proponents overlook the never-ending, heated debates “behind the scenes” caused by diverging goals of central actors, which led to numerous alternative systems (forks) of Bitcoin. To accommodate these actors’ interests in the pursuit of their common goal is a tightrope act, and this is where this dissertation commences: blockchain governance. Based on the empirical examples of various types and application domains of blockchain systems, it is the goal of this dissertation to 1) uncover governance patterns by showing, how blockchain systems are governed, 2) derive governance challenges faced or caused by blockchain systems, and, consequently, to 3) contribute to a better understanding to what blockchain governance is. This dissertation includes four parts, each of these covering different thematical areas: In the first part, this dissertation focuses on obtaining a better understanding of blockchain governance’s context of reference by studying blockchain systems from various application domains and system types, for example, led by inter-organizational networks, states, or an independent group of actors. The second part, then, focuses on a blockchain as an inter-organizational system called “cardossier”, a project I was involved in, and its governance as a frame of reference. Hereupon, for one, I report on learnings from my project involvement in the form of managerial guidelines, and, for two, I report on structural problems within cardossier, and problems caused by membership growth and how they can be resolved. The third part focuses on a wider study of blockchains as inter-organizational systems, where I summarize findings of an analysis of 19 blockchain consortia. The findings, for one, answer the question of why blockchain consortia adopt blockchain technology, and, for two, show internal and external challenges these systems faced to derive managerial recommendations. The fourth and last part studies blockchain governance’s evolution and contributes an analysis of blockchain’s governance features and its contrast to established modes of governance. These four parts, altogether, have scientific value as they increase our understanding on blockchain governance. Consequently, this dissertation contributes to the body of knowledge on modes of governance, distributed system governance, and blockchain governance in general. I do so, by grounding the concept of blockchain governance in empirical detail, showing how these systems are governed on various application domains and system types, and by studying empirical challenges faced or caused by these systems. This approach is relevant and necessary, as blockchain systems in general, but particularly outside of cryptocurrencies, mostly still are in pursuit of a sustainable blockchain governance. As blockchains can be expected to continue to mature, the upcoming years offer very fruitful ground for empirical research along the empirical insights and theoretical lines shown in this dissertation

Blockchain readiness for countries towards 2030- the barriers and benefits of adopting blockchain technology

This study investigates the factors of blockchain that will promote sustainable business towards the year 2030. The study provides an outlook to areas where business might be vulnerable in the event of blockchain implementation. The findings of this study were identified by means of an online questionnaire that targeted specialists in the arena of blockchain and business management. By a thematic analysis, the outcome of the study guides, precautions, and prepares organisations for what may come in the future of blockchain

Blockchain readiness for countries towards 2030- the barriers and benefits of adopting blockchain technology

This study investigates the factors of blockchain that will promote sustainable business towards the year 2030. The study provides an outlook to areas where business might be vulnerable in the event of blockchain implementation. The findings of this study were identified by means of an online questionnaire that targeted specialists in the arena of blockchain and business management. By a thematic analysis, the outcome of the study guides, precautions, and prepares organisations for what may come in the future of blockchain

Digital Platforms and Algorithmic Subjectivities

Algorithms are a form of productive power – so how may we conceptualise the newly merged terrains of social life, economy and self in a world of digital platforms? How do multiple self-quantifying practices interact with questions of class, race and gender? This edited collection considers algorithms at work – for what purposes encoded data about behaviour, attitudes, dispositions, relationships and preferences are deployed – and black box control, platform society theory and the formation of subjectivities. It details technological structures and lived experience of algorithms and the operation of platforms in areas such as crypto-finance, production, surveillance, welfare, activism in pandemic times. Finally, it asks if platform cooperativism, collaborative design and neomutualism offer new visions. Even as problems with labour and in society mount, subjectivities and counter subjectivities here produced appear as conscious participants of change and not so much the servants of algorithmic control and dominant platforms

A socio-technical framework to guide implementation and value realisation of distributed ledger technologies (dlt) in the construction sector

Construction is highly resistant to change. Its many challenges have persisted for decades rooted in a lack of trust, reluctance to collaborate and share information. New technologies offer increased transparency, efficiency, and collaboration. Building Information Modelling (BIM), while being the most successful to advance construction to date, has not done enough to combat the challenges. The aim of this research was to investigate the potential of distributed ledger technologies (DLT) and smart contracts (SCs) to provide solutions for the sector. Through empirical investigations (systematic literature review, interviews, focus groups, survey), a framework to guide implementation and value realisation of DLT and SCs in the construction sector was proposed. A socio-technical approach was taken resulting in a framework encompassing four dimensions of technology, process, policy and society. This approach recognises DLT and SCs are not a panacea in and of themselves and should be used in conjunction with advancements across the four dimensions to de-risk any potential failure of these systems. The framework is made up of several conceptual constructs for use at meso and macro scales to support evaluation of the as-is to achieve a desired state and offers progressive roadmaps to reach the point of implementation. The findings demonstrate the requirement for DLT and SCs to integrate with other systems (e.g., BIM, IoT, AI) to add value. Furthermore, technology alone is insufficient to solve the sector’s problems also requiring reform of outdated practices (e.g., procurement, payments, contract management). Contributions to knowledge include: the first known socio-technical framework for systematic and progressive implementation of DLT and SCs in construction. This places equal importance on society and technology for the implementation of these new technological systems and will facilitate their success to unlock benefits for the sector amid the myriad challenges it faces; through this socio-technical approach, the framework encourages active involvement of stakeholders placing importance on the realisation that engaging with users of the system is central to its success; the position of an organisation (or group) looking to develop DLT- or SC-based applications at the meso scale or the position of the sector with regard to how it wants to incorporate these technologies into its existing systems and processes at the macro scale can be evaluated using the framework’s progressive approach that considers every stage of developing and implementing an application; the constructs considering both meso and macro scales minimise any potential decoupling between policy and practice in terms of implementation; and the framework aims to provide a flexible set of tools to encourage the sector to create an ecosystem ready to support these applications as well as provide guidance in the development of applications