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Skin in the Game :
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Ellinger, Eleunthia, WongStockholm School of Economics,Handelshögskolan i Stockholm
(author)
Skin in the Game : The Transformational Potential of Decentralized Autonomous Organizations
- Article/chapterEnglish2024
Publisher, publication year, extent ...
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Management Information Systems Research Center,2024
Numbers
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LIBRIS-ID:oai:hhs.se:1168492440006056
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https://research.hhs.se/esploro/outputs/journalArticle/Skin-in-the-Game-The-Transformational/991001566099606056URI
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https://doi.org/10.25300/MISQ/2023/17690DOI
Supplementary language notes
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Language:English
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Summary in:English
Part of subdatabase
Classification
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Subject category:art swepub-publicationtype
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Subject category:ref swepub-contenttype
Notes
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Decentralized autonomous organizations (DAOs)—collectively owned human-machine systems deployed on a blockchain that self-govern through smart contracts and the voluntary contributions of autonomous community members—exhibit the potential to facilitate collective action in managing digital commons. Yet the promise of decentralization and collective action is difficult to sustain. To this end, this paper critically examines the transformational potential of DAOs in the case of decentralized finance. Using a polycentric governance lens, we contribute to the literature on technology-enabled forms of organizing with a model explaining the transformational potential of DAOs to facilitate collective action in digital commons. Our study highlights that (1) DAOs are a new form of organizing enabled by blockchain technology in which individuals are free to pursue their objectives within a general system of rules enforced by smart contracts, (2) collective action for managing digital commons can be sustained through a set of three mechanisms—sustained participation, collective direction, and scaled organizing, and (3) DAOs tend to strike a balance between centralized and fully decentralized or community-based governance by implementing a polycentric governance system involving a combination of human and machine agency that creates skin in the game.
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Gregory, Robert WayneUniversity of Miami
(author)
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Mini, TobiasUniversity of Passau
(author)
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Widjaja, ThomasUniversity of Passau
(author)
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Henfridsson, OlaUniversity of Miami
(author)
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Handelshögskolan i StockholmStockholm School of Economics
(creator_code:org_t)
Related titles
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In:MIS Quarterly: Management Information Systems: Management Information Systems Research Center48:1, s. 245-2722162-97300276-7783
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