The Effects of Blockchain Technology on Corporate Governance and Corporate Social Responsibility in Knowledge-Based Companies in IT industry

Blockchain technology’s characteristics such as reliability, traceability, data immutability and smart contracts are giving rise to confident environments with less need for intermediaries. Blockchain and other distributed ledger technologies are believed to have significant impacts on society because they can help to improve transaction efficiency, reduce cost, build trust and improve transparency. On the other hand, corporate governance is an important determinant of corporate performance. Poor corporate governance can damage the interests of shareholders, and may lead to business collapse. Accordingly, the purpose of this study is to examine the impact of blockchain adoption on both corporate governance and corporate social responsibility, as well as the impact of corporate governance on corporate social responsibility. The statistical population of the research is all the managers and experts in knowledge-based companies in Iran. For data analysis, structural equation modeling and Smart PLS 3 software have been used. The results accentuated and proved, due to decentralized system, transparency and traceability, the positive impacts of blockchain adoption on corporate governance and corporate social Responsibility, moreover the last hypothesis result was the impact of corporate governance on corporate social responsibility. Therefore, the use of blockchain technology has great potential to provide efficient solutions to many issues that affect current systems in corporate governance. Blockchain role is critical not only for organizational performance and competitive advantages, but also for social and environmental benefits overall.