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The company and blockchain technology

Low, Kelvin F.K., Schuster, Edmund ORCID: 0000-0002-9355-535X and Wai Yee, Wan (2023) The company and blockchain technology. In: Petrin, Martin and Witting, Christian, (eds.) Research Handbook on Corporate Liability. Research Handbooks in Private and Commercial Law series. Elgar, Cheltenham, UK, 447 - 466. ISBN 9781800371279

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Identification Number: 10.4337/9781800371286.00035


Blockchain and distributed ledger technology (DLT) have generated much excitement over the past decade, with proclamations that they would disrupt everything from elections to finance. Unsurprisingly, the much-maligned corporate form is also considered ripe for disruption. While certainly imperfect, and currently serviced by creaking legal infrastructure premised upon direct shareholdings, are its problems ones of centralization/intermediation? What exactly are the limits of DLT? In this chapter, we propose to expose the ignorance behind the hype that the venerable corporation will either be revitalized by DLT or replaced by Decentralized Autonomous Organizations (DAOs). We will demonstrate that proponents of DLT disruption either overestimate the potential of the technology by taking at face value its claims of security without unpacking what said security entails (and what it does not) or lack awareness of the history of and market demand for intermediation as well as the complexities of modern corporations.

Item Type: Book Section
Official URL:
Additional Information: © 2023 The Editors and Contributors Severally
Divisions: Law
Subjects: K Law > K Law (General)
H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HF Commerce
Date Deposited: 21 May 2024 15:42
Last Modified: 03 Jul 2024 03:54

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