{"title":"FUTURE OF BLOCKCHAIN GOVERNANCE: EXPLORING DECENTRALIZED DEMOCRACY","authors":"Akash Yadav","doi":"10.59126/v3i1a8","DOIUrl":null,"url":null,"abstract":"Blockchain technology presents a paradigm shift in governance, offering decentralized frameworks that challenge traditional centralized systems. This paper delves into the concept of decentralized democracy within blockchain governance and its implications for the future. The paper outlines the foundational principles of blockchain, highlighting its ability to facilitate transparent, trustless transactions through distributed consensus mechanisms. The paper then examines various governance models, from centralized to decentralized approaches such as on-chain governance and decentralized autonomous organizations (DAOs), assessing their strengths and weaknesses. Moreover, the research explores the concept of decentralized democracy, elucidating how blockchain enables transparent, auditable voting systems for direct stakeholder participation in decision-making.","PeriodicalId":424180,"journal":{"name":"THE JOURNAL OF UNIQUE LAWS AND STUDENTS","volume":"69 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2024-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"THE JOURNAL OF UNIQUE LAWS AND STUDENTS","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.59126/v3i1a8","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
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Abstract
Blockchain technology presents a paradigm shift in governance, offering decentralized frameworks that challenge traditional centralized systems. This paper delves into the concept of decentralized democracy within blockchain governance and its implications for the future. The paper outlines the foundational principles of blockchain, highlighting its ability to facilitate transparent, trustless transactions through distributed consensus mechanisms. The paper then examines various governance models, from centralized to decentralized approaches such as on-chain governance and decentralized autonomous organizations (DAOs), assessing their strengths and weaknesses. Moreover, the research explores the concept of decentralized democracy, elucidating how blockchain enables transparent, auditable voting systems for direct stakeholder participation in decision-making.
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