Organisations all around the world are recognizing the limitations existing management structure. Once upon a time, it made sense. People had specific, discrete skills for a specific job and the world moved slowly. The hierarchy worked well. Now, however, people have diverse skills and the market moves so fast that companies relying on past-model hierarchies are not able to keep up.
The blockchain, a powerful peer-to-peer (P2P) technology that enables decentralized applications, is now offering ways to solve this issue. By building a variety of new technologies on the blockchain, companies are beginning to disrupt the way management works. They are implementing new and innovative forms of business administration that don’t use the traditional hierarchical method of organisation, while experimenting with previously impossible forms of corporate governance.
Traditionally, hierarchy has been the main model of governance in human organizations, but now a new paradigm shift is about to change the way division of labour is implemented, and most importantly, the way several parties can cooperate and still be driven by individual interests. With the possibility of introducing P2P distributed applications to the corporate world, a new form of organization is starting
Read more ... source: TheBitcoinNews
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