Enhancing the Democratic Nature of Voting Processes within Decentralized Autonomous Organizations

Colin Gilson and Sarah Bouraga (sarah.bouraga@gmail.com)
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Colin Gilson: UNamur - Université de Namur [Namur]
Sarah Bouraga: UNamur - Université de Namur [Namur]

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Abstract: Purpose. We aim 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/approach. In this paper, we apply a qualitative methodology. Using a thematic coding analysis, we process data collected from interviews with 11 experts. Findings. Multiple factors contribute to the perceived lack of democracy within DAOs, such as: token concentration, 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. 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

Keywords: Decentralized Autonomous Organizations (DAOs); Blockchain; Democracy; Voting Process Article Classification. (search for similar items in EconPapers)
Date: 2024-01-02
New Economics Papers: this item is included in nep-pol
Note: View the original document on HAL open archive server: https://normandie-univ.hal.science/hal-04814435v1
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Published in Digital Policy, Regulation and Governance, 2024, 26 (2), pp.169-187. ⟨10.1108/DPRG-09-2023-0126⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04814435

DOI: 10.1108/DPRG-09-2023-0126

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