In traditional online services, power is centralized. Whoever operates the system has the power to shut it down, modify the system’s operation and keep people out of the system. They are the sovereign of the platform and have the ultimate power. In blockchain systems, power is distributed among all the users operating the network.
There is a variety of nodes with much less power. The power dynamics are different. That is why we are working on a theory of distributed governance. When power is distributed, participants need to be engaged in distributed governance to get anything done and to understand the way in which diverse actors use this power.
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Many analyses of blockchain adopt the model of a centralised governance. However, blockchain governance is polycentric: it does not have one centre of power. It builds upon polycentric governance and actors, which interact with and influence each other with a particular outcome. With this project, we aim to aggregate all these pieces and build a broader theoretical framework around the challenges, opportunities and thinking around this type of governance.
