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Decentralised finance, decentralised organisations and the future of the firm

In: A Research Agenda for Corporate Law

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  • Ann Sofie Cloots

Abstract

Can we build a company without a board of directors, with real-time updates on voting right holders, who discuss and vote on governance proposals online, building on the game theoretic design we assume in standard corporate law theory? According to proponents of decentralised autonomous organisations (DAOs), such a type of firm already exists. Although DAOs are presented as something radically new, they build on the standard New Institutional Economics assumptions imbued in our traditional corporate law discussions. This chapter assesses how DAOs, in decentralised finance or beyond, can challenge or enrich the corporate form and corporate governance literature.

Suggested Citation

  • Ann Sofie Cloots, 2023. "Decentralised finance, decentralised organisations and the future of the firm," Chapters, in: Christopher M. Bruner & Marc Moore (ed.), A Research Agenda for Corporate Law, chapter 10, pages 187-206, Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:20429_10
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    File URL: https://www.elgaronline.com/doi/10.4337/9781800880443.00019
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