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(Un)Corporate Crypto-Governance, Carla L. Reyes

Fordham Law Review

Public blockchain protocols face a serious governance crisis. Thus far, blockchain protocols have followed the path of early internet governance. If the architects of blockchain protocols are not careful, they may suffer a similar fate—increased governmental control, greater centralization, and decreased privacy. As blockchain architects begin to consider better governance structures, there is a legal movement underway to impose a fiduciary framework on open-source software developers. If the movement succeeds, the consequences for open-source software development could be dire. If arbitrarily imposed on blockchain communities without consideration of variances among communities or the reality of how such communities operate, the …