A developed distributed ledger technology architectural layer framework for decentralized governance implementation in virtual enterprise

Abstract

Distributed Ledger technology (DLT) has recently emerged as a disruptive system with a wide range of applicability, with prospect to improve societal interactions at large. In virtual enterprise (VE) context researchers and practitioners have started to investigate the deployment of DLT to automate the processing of data and implementation of decisions to support the provision of digital services. Although academic interest in this domain is growing, a practical analysis of DLT from a governance perspective is still lacking to date. Accordingly, this study aims to fill this gap and provide implications related to decentralized governance of DLT. This article develops an architectural governance-by-design framework that defines the governance of DLT as a combination of architectural layers and governance of DLT dimensions. Design science is employed, and IOTA tangle an open-source DLT which employs a decentralized asynchronous network is deployed to evaluate the applicability of the developed architectural governance-by-design framework through qualitative interviews and literature inquiry. The findings confirm the developed architectural governance-by-design framework and offer a shared discussion and insight surrounding the topic of governance of DLT. The findings also identify limitations associated with governance of DLT solutions and proposes policy recommendations to be used as guidelines for practitioners to improve the adoption of DLT to accelerate VE digitalization.