Abstract
Decentralized ecosystems, such as the Bitcoin, claim to be decentralized to avoid power concentrations such as commercial banks. This is perhaps true for their operations, but often not the case for their governance, which is about deciding the rules of monitoring and controlling protocols. In previous work, we have developed DECENT a domain specific language (DSL) to conceptualize the domain of decentralized governance design. In this paper, we focus on deriving governance design decisions based on the DECENT language. We do so by taking the case of Fractional Reserve Banking (FRB), which is about governance rules for commercial banks to create and destroy money. As many banks are licensed to do FRB, under the control of national central banks and the European Central Bank (ECB), this is already a case of a decentralized ecosystem. The governance design decisions are developed in close cooperation with our case study partner, a commercial bank.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Similar content being viewed by others
References
Corbet, S. (ed.): Understanding Cryptocurrency Fraud: The Challenges and Headwinds to Regulate Digital Currencies. De Gruyter (2021). https://doi.org/10.1515/9783110718485
Fritsch, R., Mu¨ller, M., Wattenhofer, R.: Analyzing voting power in decentralized governance: Who controls daos? arXiv preprint arXiv:2204.01176 (2022)
Kaya, F., Gordijn, J.: Decent: An ontology for decentralized governance in the renewable energy sector. In: 2021 IEEE 23rd Conference on Business Informatics (2021)
Mariem, S.B., Casas, P., Romiti, M., Donnet, B., Stu¨tz, R., Haslhofer, B.: All that glitters is not bitcoin–unveiling the centralized nature of the btc (ip) network. In: IEEE Network Operations and Management Symposium (2020)
Pocher, N., Zichichi, M.: Towards cbdc-based machine-to-machine payments in consumer IoT. In: Proceedings of the 37th ACM/SIGAPP, pp. 308–315 (2022)
Sarkar, R., Gordijn, J.: Modeling communities in e3 value. In: Workshop On Value Modeling and Business Ontologies (2018)
Ziolkowski, R., Miscione, G., Schwabe, G.: Decision problems in blockchain governance: old wine in new bottles or walking in someone else’s shoes? J. Manag. Inf. Syst. 2, 316–348 (2020)
Acknowledgement
We thank the Market Infrastructure Group (ABN AMRO), Jesse Donkervliet (VUA), Massivizing Computer Systems Group (VUA), Knowledge Engineering Group (Vienna), and Paul Ellsiepen (VUA) for the support. Declaration. This research is not funded by ABN AMRO.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2023 The Author(s), under exclusive license to Springer Nature Switzerland AG
About this paper
Cite this paper
Kaya, F., Perez, F., Dekker, J., Gordijn, J. (2023). DECENT: A Domain Specific Language to Design Governance Decisions. In: Nurcan, S., Opdahl, A.L., Mouratidis, H., Tsohou, A. (eds) Research Challenges in Information Science: Information Science and the Connected World. RCIS 2023. Lecture Notes in Business Information Processing, vol 476. Springer, Cham. https://doi.org/10.1007/978-3-031-33080-3_43
Download citation
DOI: https://doi.org/10.1007/978-3-031-33080-3_43
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-031-33079-7
Online ISBN: 978-3-031-33080-3
eBook Packages: Computer ScienceComputer Science (R0)