Distributed Governance

Carla L. Reyes, Nizan Geslevich Packin, Benjamin P. Edwards

Research output: Contribution to journalArticlepeer-review


Distributed ledger technology disrupts traditional business organizations by introducing new business entities without the directors and officers of traditional corporate entities. Although these emerging entities offer intriguing possibilities, distributed entities may suffer significant collective action problems and expose investors to catastrophic regulatory and governance risks. Our Article examines key considerations for stakeholders and argues that distributed entities must be carefully structured to function effectively. This Article breaks new ground by critically examining distributed entities. We argue that a distributed model is most appropriate when distributed ledger technology solves a unique corporate governance problem. We caution against ignoring the lessons painstakingly learned through past governance failures.
Original languageEnglish
Pages (from-to)1-32
Number of pages32
JournalWilliam & Mary Law Review Online
StatePublished - 2017
Externally publishedYes


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