Algorithms play an increasingly important role in today’s digital economy. An emerging view highlighted the viability of utilizing algorithms as a governance device. With innovations in blockchain infrastructure and smart contracts algorithms, platforms can delegate formal authority to exchange partners and involve them in organizational decision-making processes. While some are optimistic that this governance innovation can bring about a more collaborative and democratic digital economy, this paper highlights potential challenges associated with decentralized governance systems. I argue that decentralized governance shifts the locus of opportunism from platform owners to a body of diffuse exchange partners. Appropriation no longer come…Read More