Scholars in business and management have started studying the role of blockchains to support collaboration. It has been argued that blockchains can foster both cooperation (i.e., prevention of opportunistic behavior) and coordination (i.e., communication and information sharing). Thanks to reliability, transparency, traceability of records, and information immutability, blockchains facilitate collaboration in a way that differs both from the traditional use of contracts and from relational norms. Contrary to contracts, blockchains do not directly rely on the legal system to enforce agreements. In addition, contrary to the use of relational norms, blockchains do not require trust or direct connections between collaborators.
- 5Academic research