Blockchain Beyond Cryptocurrencies: A Study on Its Impact on Corporate Governance Practices

The world is being revolutionized by technological breakthroughs worldwide, and Blockchain technology is a formidable innovation expanding beyond its original development as a technology for bitcoins. This paper examines how Blockchain technology can contribute to better corporate governance across a range of issues, including transparency, agency costs, and shareholder voting. The study comprehensively explores Blockchain’s underlying principles, its myriad applications in various industries, and its potential impact on corporate governance, drawing on a wide-ranging survey of existing literature and published reports. Drawing on extensive qualitative analyses of relevant literature and published reports, the study provides a broad overview of Blockchain’s fundamentals, its many use cases across the domains, and its prospects for corporate governance. A case study of four significant businesses using blockchain technology is included in the research to examine how this technology might be incorporated into corporate governance frameworks. The findings show that employing blockchain technology can improve transparency and lower the agency’s transaction costs. Additionally, the duties related to shareholder voting will be reinforced to guarantee honesty and equitable operations.