Ankur Anand, KIIT School of Law
Shivansh Singh, KIIT School of Law
ABSTRACT
This paper examines the potential of blockchain technology to revolutionize corporate governance. Corporate governance, the system of rules and processes by which companies are directed and controlled, is a crucial aspect of modern business. The blockchain, a decentralized digital ledger, has the potential to significantly enhance the transparency, accountability, and efficiency of corporate governance. The paper begins by providing an overview of the current state of corporate governance and the challenges that exist within the system. It then explores the key features of blockchain technology, such as its immutability, transparency, and decentralization, that make it an ideal tool for enhancing corporate governance. The paper also considers the legal implications of blockchain adoption in corporate governance, including issues related to privacy, data protection, and regulatory compliance. It examines the potential benefits of using smart contracts to automate corporate governance processes, as well as the challenges and limitations of this approach. The paper concludes by highlighting the need for further research and experimentation in the field of blockchain and corporate governance. While there are significant potential benefits to be gained from blockchain adoption, it is important to carefully consider the legal and regulatory implications and to develop appropriate frameworks for implementation.
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