Title: Blockchain governance

Authors: Polinpapilinho F. Katina; Charles B. Keating; Joseph A. Sisti; Adrian V. Gheorghe

Addresses: Department of Informatics and Engineering Systems, University of South Carolina Upstate, 800 University Way, Media Bldg., 211, Spartanburg, SC 29303, USA ' Department of Engineering Management and Systems Engineering, National Centers for System of Systems Engineering, Old Dominion University, 2101 Engineering Systems Bldg., Norfolk, VA 23529, USA ' Department of Engineering Management and Systems Engineering, National Centers for System of Systems Engineering, Old Dominion University, 2101 Engineering Systems Bldg., Norfolk, VA 23529, USA ' Department of Engineering Management and Systems Engineering, National Centers for System of Systems Engineering, Old Dominion University, 2101 Engineering Systems Bldg., Norfolk, VA 23529, USA

Abstract: Blockchain is probably best known as a technology that underpins bitcoin cryptocurrency, taking records (e.g., confirmed financial transactions) and placing them into 'blocks', which are linked to prior blocks - forming a chronological 'chain' of blocks. However, bitcoin blockchain is only one instantiation of blockchain technology and there exist a few qualitative analyses addressing instantiations of blockchain technology. The aim of this study was two-fold: 1) to understand the difference between bitcoin and blockchain; 2) to delineate the need (and role) of governance in blockchain technology. First, fundamental relationships (and differences) between bitcoin and blockchain are presented. Second, drawing on societal blockchain technology concerns, a key element (i.e., governance) and its role in shaping blockchain technology is suggested. This research concludes with possible areas of research (and research questions) that can enable realisation of blockchain governance along the areas philosophical, theoretical, axiological, methodological, axiomatic, method and application dimensions.

Keywords: bitcoin; blockchain; blockchain governance; critical infrastructure; research questions; vulnerability.

DOI: 10.1504/IJCIS.2019.098835

International Journal of Critical Infrastructures, 2019 Vol.15 No.2, pp.121 - 135

Received: 18 Oct 2018
Accepted: 24 Oct 2018

Published online: 04 Feb 2019 *

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