Enhancing the democratic nature of voting processes within decentralized autonomous organizations

Paper entitled “Enhancing the democratic nature of voting processes within decentralized autonomous organizations” in Digital Policy, Regulation and Governance.

Purpose

This paper aims to explore the problem of power imbalance within decentralized autonomous organizations (DAOs) and propose potential solutions that could contribute to enhancing the democratic nature of DAOs.

Design/methodology/approach

In this paper, the authors apply a qualitative methodology. Using a thematic coding analysis, the authors process data collected from interviews with 11 experts.

Findings

Multiple factors contribute to the perceived lack of democracy within DAOs, such as token concentration and effective stakeholder communication. Next, quadratic voting has the potential to enhance democracy within DAOs, but this mechanism must be implemented mindfully. Finally, the results were nuanced when it comes to the effectiveness of liquid democracy in DAOs to enhance voter participation and representation.

Originality/value

To the best of the authors’ knowledge, this paper is one of the first research contributions to propose recommendations to address the power imbalance within DAOs and to contribute to the advancement of decentralized decision-making structures.

We Are Launching our Own NFT! Characterizing Fashion NFT Transactions-Preliminary Results

Paper presented @BRAINS2023, conference held in Paris (October 2023).

Abstract. Blockchain technology and Non Fungible Tokens (NFTs) have been a hot topic for several years now, as proven by the multitude of brands launching their own NFT projects. In this paper, we will consider some popular fashion NFT collections, namely: adidas Originals Into the Metaverse, AMBUSH OFFICIAL POW! REBOOT, Azuki x AMBUSH IKZ, CULT & RAIN – The Genesis Collection, Dolce& Gabbana: DGFamily, Dolce& Gabbana: DGFamily Glass Box, Chito x Givenchy NFT, MUGLER – We Are All Angel, RTFKT x Nike Dunk Genesis CRYPTOKICK, Prada Timecapsule. First, we will analyze and examine if we can find salient characteristics of transactions pertaining to these collections. Second, we will attempt to propose a first taxonomy of fashion NFT transactions. From the results, we can state that most transactions occur at the NFT launch and that they belong to the Memberships category. Secondly, the results show that we can propose a taxonomy of four transaction groups or clusters. The findings can have practical implications for both researchers and practitioners, indeed the results: (i) can be a stepping stone for future research on (fashion) NFTs, (ii) can help practitioners analyze transactions using our preliminary taxonomy.

Assessing the impact of network factors and Twitter data on Ethereum’s popularity

I recently published a paper entitled “Assessing the impact of network factors and Twitter data on Ethereum’s popularity” in Blockchain: Research and Applications.

Abstract. In March 2021, we witnessed a surge in Bitcoin price. The cause seemed to be a tweet by Elon Musk. Are other blockchains as sensitive to social media as Bitcoin? And more precisely, could Ethereum’s popularity be explained using social media data?

This work aims to explore the determinants of Ethereum’s popularity. We use both data from Etherscan to retrieve the relevant historic Ethereum factors and Twitter data. Our sample consists of data ranging from 2015 to 2022. We use Ordinary Least Squares to assess the relationship between these factors (Ethereum characteristics and Twitter data) and Ethereum’s popularity.

Our findings show that Ethereum’s popularity—translated here by the number of daily new addresses—is related to the following elements: the Ether (ETH) price, the transaction fees, and the polarity of tweets related to Ethereum.

The results could have multiple practical implications for both researchers and practitioners. First of all, we believe that it will enable readers to better understand the technology of Ethereum and its stake. Secondly, it will help the community identify pointers for anticipating or explaining the popularity of existing or future platforms. And finally, the results could help in understanding the factors facilitating the design of future platforms.

bouraga-ethereum-popularityDownload

Feel free to share any comment or question you might have regarding the document itself or the topic in general.

Cheers!

Sarah

To Fork or Not To Fork? Bitcoin Forks’ Success Analysis Using Twitter Data: Preliminary Results

Short paper presented @BRAINS2022, conference held in Paris.

Abstract. Bitcoin is a decentralized cryptocurrency. It is open-source; its design is public, nobody owns or controls it and everyone can take part. And Bitcoin, just like any other open-source projects, has been subject to forks.

In this paper, we will consider some popular Bitcoin forks and we will examine if we can find a link between the value of the fork (i.e. its price) and the overall sentiment of the fork based on Twitter data. The forks we consider here are: Litecoin (LTC), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Bitcoin Diamond (BCD), Bitcoin Private (BTCP), Bitcoin Atom (BCA), and Bitcoin SV (BSV). From the results, we can state that, for most cryptocurrencies studied here, the number of tweets follows the price trend more closely than the sentiment evolution does.

The findings can have practical implications for both researchers and practitioners, indeed the results: (i) can be a stepping stone for future research on hard forks, (ii) can help practitioners identify the relevant indicators for hard forks price evolution.