Blockchain Technology for Business and Corporate Governance

The benefits of using blockchain for smart contracts and verifiable transactions can also be applied toward making business accounting more transparent. The Boardroom app, for example, provides a governance framework and app enabling companies to manage smart contracts on the public and permissioned Ethereum blockchains.

The app provides an administrative system for organizations to ensure smart contracts are executed according to rules encoded on the blockchain (or to update the rules themselves). Boards can also use the app for shareholder voting by proxy and collaborative proposal management.

Aragon is going even further, using blockchain to “disintermediate the creation and maintenance of companies and other organizational structures.” Believing that decentralized organizations can solve the world’s worst problems, Aragon is developing tools to help companies use blockchain to manage their entire global workforce.

The company sees blockchain as a tool to welcome more employees and contractors from developing countries into North American and European businesses.

Source: CB Insights

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