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Banking and Finance Law

Southern Methodist University

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(Un)Corporate Crypto-Governance, Carla L. Reyes Jan 2020

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

Faculty Journal Articles and Book Chapters

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 — increasing governmental control, greater centralization, and decreasing privacy. As blockchain architects begin to consider better governance structures, there is a legal movement underway to impose a fiduciary framework upon open source software developers. If the movement succeeds, the consequences for open source software development could be dire. If arbitrarily imposed upon blockchain communities without consideration of variances among communities or the reality of how …