A Taxonomy for the Formation of Enterprise Blockchain Consortia

Blockchain governance is a pivotal subject of interest in both academic research and practical applications, particularly for companies endeavoring to establish and maintain successful blockchain consortia. Despite its significance, the dearth of comprehensive guidance poses challenges for companies striving to build and manage blockchain networks while incorporating diverse influences from various governance theories. This paper addresses this gap by presenting a taxonomy that offers a fully encompassing overview of the multifaceted aspects surrounding the establishment of enterprise blockchain consortia. To achieve this objective, we conducted a systematic literature review to identify pertinent themes and insights related to blockchain governance. Subsequently, the findings were further enriched through in-depth interviews with experts entrenched in the blockchain ecosystem. Lastly, the resulting taxonomy was subject to validation through a comprehensive survey. The taxonomy goes beyond the predominantly technical-focused discussions of blockchain governance and extends them to encompass the broader dimensions of administrative, organizational, economic and legal perspectives. By incorporating these multifaceted dimensions, our taxonomy aims to provide a holistic understanding of the intricate governance considerations inherent in forming and managing sustainable blockchain consortia in enterprise settings. We expect our contribution to serve as a valuable resource for companies aiming to navigate the complexities of blockchain governance and foster the success of their consortium endeavors.