The internal and external governance of blockchain-based organizations

Blockchain technology proposes to create value by decentralizing the creation, verification, validation, and secure storage of economic transactions, both within and between organizations. Since 2015, central banks across the world are exploring the possibility of issuing money on a blockchain (Del Castillo, 2017). This could streamline monetary policy implementation at a global level, help combat counterfeiting and tax evasion, and potentially affect the business models of retail banks.