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Enhancing the democratic nature of voting processes within decentralized autonomous organizations

Enhancing the democratic nature of voting processes within decentralized autonomous organizations This paper aims to explore the problem of power imbalance within decentralized autonomous organizations (DAOs) and propose potential solutions that could contribute to enhancing the democratic nature of DAOs.Design/methodology/approachIn this paper, the authors apply a qualitative methodology. Using a thematic coding analysis, the authors process data collected from interviews with 11 experts.FindingsMultiple factors contribute to the perceived lack of democracy within DAOs, such as token concentration and effective stakeholder communication. Next, quadratic voting has the potential to enhance democracy within DAOs, but this mechanism must be implemented mindfully. Finally, the results were nuanced when it comes to the effectiveness of liquid democracy in DAOs to enhance voter participation and representation.Originality/valueTo the best of the authors’ knowledge, this paper is one of the first research contributions to propose recommendations to address the power imbalance within DAOs and to contribute to the advancement of decentralized decision-making structures. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Digital Policy Regulation and Governance Emerald Publishing

Enhancing the democratic nature of voting processes within decentralized autonomous organizations

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References (74)

Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
2398-5038
DOI
10.1108/dprg-09-2023-0126
Publisher site
See Article on Publisher Site

Abstract

This paper aims to explore the problem of power imbalance within decentralized autonomous organizations (DAOs) and propose potential solutions that could contribute to enhancing the democratic nature of DAOs.Design/methodology/approachIn this paper, the authors apply a qualitative methodology. Using a thematic coding analysis, the authors process data collected from interviews with 11 experts.FindingsMultiple factors contribute to the perceived lack of democracy within DAOs, such as token concentration and effective stakeholder communication. Next, quadratic voting has the potential to enhance democracy within DAOs, but this mechanism must be implemented mindfully. Finally, the results were nuanced when it comes to the effectiveness of liquid democracy in DAOs to enhance voter participation and representation.Originality/valueTo the best of the authors’ knowledge, this paper is one of the first research contributions to propose recommendations to address the power imbalance within DAOs and to contribute to the advancement of decentralized decision-making structures.

Journal

Digital Policy Regulation and GovernanceEmerald Publishing

Published: Jan 30, 2024

Keywords: Decentralized autonomous organizations (DAOs); Blockchain; Democracy; Voting process

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