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Title: Decentralised Governance Through Blockchain
Authors: WOO JUN JIE 
Issue Date: Mar-2024
Citation: WOO JUN JIE, R AVINASH (2024-03). Decentralised Governance Through Blockchain : 1-31. ScholarBank@NUS Repository.
Series/Report no.: IPS Working Papers No. 54;
Abstract: This paper explores the application of blockchain technology to decentralised governance. More specifically, it examines the potential of blockchain in creating self-governing ecosystems that help manage shared resources effectively. The paper uses the late Nobel laureate Elinor Ostrom’s model of decentralised governance to prove that effective resource management can be undertaken through a system that facilitates and rewards cooperation, as well as punishes parties that violate key principles and laws. This can be achieved without the overriding authority of the state imposing its will on the participants of that said ecosystem. Blockchain is presented as a transformative mediating platform that enables players within a given system to function without the fear of being undercut or cheated. Blockchain has the potential to revolutionise the way nations, societies, and industries engage with each other. As the 21st century progresses, adopting blockchain will go a long way in aiding Singapore’s digital transformation and supplementing its goal of becoming the digital hub of Southeast Asia.
DOI: 10.25818/vzx5-jedp
Appears in Collections:Staff Publications

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