Decentralization in Blockchain: Reconsidering Change Management Theories

Abstract

This paper explores the implications of blockchain technology's decentralization for traditional change management theories. As digital technologies continue to disrupt organizational structures, blockchain stands out with its unique feature of decentralization, challenging the centralized premise inherent in many existing change management theories. While influential and widely applied, these theories are largely predicated on certain fundamental assumptions about organizations and the nature of change, often assuming a centralized structure where authority and decision-making are concentrated at the top. However, with its inherent decentralization, blockchain technology democratizes decision-making and authority, disrupting traditional power dynamics and posing significant challenges to these assumptions. The present paper aims to address the gap in the current literature by exploring how blockchain's decentralization challenges and expands our current theories of change management wherein we propose theoretical adjustments and potential new constructs for change management. By doing so, we contribute to the evolving discourse on change management in the digital age and illuminate the transformative potential of blockchain’s decentralization and its implications for our understanding and practice of managing organizational change.