distributed governance
/dɪˈstʁɪbjuːtɪd ˈɡɒvərnəns/ · dis·trib·u·t·ed gov·er·nance
noun
- A system of governance where decision-making authority is distributed among multiple stakeholders, often through the use of blockchain technology or other decentralized systems. The company implemented a distributed governance model to ensure transparency and accountability in its decision-making process.
- A set of rules and protocols that govern the behavior of a distributed system, such as a blockchain network. The distributed governance framework outlined the specific rules for validating transactions on the network.
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Did you know? The concept of distributed governance has been influenced by the work of computer scientist and cryptographer Nick Szabo, who proposed the idea of a 'distributed governance' system for managing digital assets in the 1990s.