Decentralized governance

Gayan Benedict

Chapter 16 in Elgar Encyclopedia of Cryptocurrencies, Blockchain and DLT, 2026, pp 83-87 from Edward Elgar Publishing

Abstract: Decentralized governance, enabled by blockchain and distributed ledger technologies (DLTs), represents a shift from conventional centralized governance modalities. While centralized governance has been integral for maintaining societal order over time, it has faced criticism for inefficiency, bureaucracy, and power concentration. Decentralized governance enables trust and transactions without central authorities through cryptography and incentive mechanisms to ensure integrity and sustained operation. The emergence of decentralized governance also brings challenges like regulatory disruption, new potential for opaque power concentrations, and emergent systemic risks. Hybrid models that combine decentralized and centralized elements may offer a way forward, balancing innovation with stability, regulation, and security for future governance systems.

Keywords: Decentralized governance; Centralized governance; Hybrid governance models; Token; Liquid governance (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035339952
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