Blockchain governance and trust: A multi-sector thematic systematic review and exploration of future research directions

Abstract

This paper aims to critically examine the scholarly work conducted in blockchain (BC) governance. Without venturing into the wide range of governance paradigms, this research considers governance structures based on trust as a foundation for BC governance. A thematic systematic literature review is conducted to understand the literature on this topic, employing the SALSA (Search, Appraisal, Synthesis and Analysis) technique. An examination of 155 papers shows that using BC technology (BCT) replaces the cognitive attribution of trust in the material and human-independent code. It is also found that further research anchored to the ‘trust’ concept is required in building BC governance structures. To provide the direction in which the literature is travelling, future research questions on trust and governance are documented. In general, the literature review suggests that BC has the potential to revolutionize the way in which businesses operate. By improving transparency, efficiency, and security, BC can help businesses to reduce costs, improve customer satisfaction, and make better decisions. This research can help policymakers, industrialists, and researchers to identify where BC governance is being used and which aspects of governance are to be focused on. This paper is a general review of literature and evidence on contemporary developmental issues.