CSR Reporting and Blockchain Technology

Pattarake Sarajoti, Pattanaporn Chatjuthamard, Suwongrat Papangkorn and Piyachart Phiromswad

A chapter in Corporate Social Responsibility in the 21st Century from IntechOpen

Abstract: Blockchain technology is a public ledger that stores data in a chain of blocks which can radically improve the quality of our records from "records that might be trustworthy" to "records that trust is absolute". This chapter explores one area that blockchain technology can radically transform but has not yet received significant attention. We evaluate the suitability of applying blockchain technology for corporate social responsibility (CSR) reporting. We demonstrate that blockchain technology is suitable in the context of CSR reporting since there is a strong need for an immutable common database shared among various stakeholders with potential trust issues. We also argue that blockchain technology does not completely eliminate existing trusted third parties such as governments, international organizations that provide CSR reporting standards, major CSR reporting assurance companies and major CSR infomediaries. In particular, blockchain technology can be used as a platform that integrates all traditional trusted third parties, transforms their functions, and reduces their drawbacks for advancing CSR reporting. We also demonstrate that a permissionless public blockchain would be the most suitable structure.

Keywords: blockchain technology; CSR reporting; immutability; anonymity; transparency; smart contracts; decentralized autonomous organization (search for similar items in EconPapers)
JEL-codes: M14 (search for similar items in EconPapers)
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.intechopen.com/chapters/82269 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ito:pchaps:267014

DOI: 10.5772/intechopen.105512

Access Statistics for this chapter

More chapters in Chapters from IntechOpen
Bibliographic data for series maintained by Slobodan Momcilovic ().