Imperial College London
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Dr Ying-Ying Hsieh

Business School

Assistant Professor of Innovation and Entrepreneurship
 
 
 
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Contact

 

+44 (0)20 7594 9163y.hsieh Website CV

 
 
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Location

 

292Business School BuildingSouth Kensington Campus

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Summary

 

Publications

Citation

BibTex format

@article{Hsieh:2018:10.1186/s41469-018-0038-1,
author = {Hsieh, Y and Vergne, J-P},
doi = {10.1186/s41469-018-0038-1},
journal = {Journal of Organization Design},
pages = {1--16},
title = {Bitcoin and the rise of decentralized autonomous organizations},
url = {http://dx.doi.org/10.1186/s41469-018-0038-1},
volume = {7},
year = {2018}
}
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RIS format (EndNote, RefMan)

TY  - JOUR
AB  - Bitcoin  represents  the  first  real-world  implementation  of  a  “decentralized  autonomous organization” (DAO) and offers a new paradigm for organization design. Imagine working for a global business  organization  whose  routine  tasks  are  powered  by  a  software  protocol  instead  of  being governed by managers and employees. Task assignments and rewards are randomized by the algorithm. Information  is  not channelled through  a  hierarchy  but  recorded  transparently  and  securely  on  an immutable public ledger called “blockchain”. Further, the organization decides on design and strategy changes through a democratic voting process involving a previously unseen class of stakeholders called “miners”. Agreements need to be reached at the organizational level for any proposed protocol changes to be approved and activated.How do DAOs solve the universal problem of organizing with such novel solutions? What are  the  implications? We  use  Bitcoin  as  an  example  to  shed  light  on  how  a  DAO  works  in  the cryptocurrency industry, where it provides a peer-to-peer, decentralized and disintermediated payment system that can compete against traditional financial institutions. We also invitedcommentaries from renowned organization scholars to share their views on this intriguing phenomenon.
AU  - Hsieh,Y
AU  - Vergne,J-P
DO  - 10.1186/s41469-018-0038-1
EP  - 16
PY  - 2018///
SN  - 2245-408X
SP  - 1
TI  - Bitcoin and the rise of decentralized autonomous organizations
T2  - Journal of Organization Design
UR  - http://dx.doi.org/10.1186/s41469-018-0038-1
UR  - https://jorgdesign.springeropen.com/articles/10.1186/s41469-018-0038-1
UR  - http://hdl.handle.net/10044/1/62836
VL  - 7
ER  -
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