Blockchain-based Governance, Risk Management, and Compliance for Fractional Ownership: Design and Implementation of A Decentralized Autonomous Agent System

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dc.contributor.authorCu, Mina
dc.contributor.authorPeko, Gabrielle
dc.contributor.authorChan, Johnny
dc.contributor.authorSundaram, David
dc.date.accessioned2022-12-27T19:10:23Z
dc.date.available2022-12-27T19:10:23Z
dc.date.issued2023-01-03
dc.description.abstractFractional ownership makes homeownership more affordable. But there are challenges in a fractional ownership real estate transaction (FORET) regarding governance, risk management and compliance (GRC) processes. Centralized GRC solutions are less effective in managing the tiered structure of communications in a FORET, which can lead to principal-agent problems such as information asymmetry, risk aversion, and moral hazard. In this research we investigate how these principal-agent problems in FORET could be mitigated. Using an agency theory perspective, we adopt a design science multimethodological research approach. We propose conceptual and system artefacts to support the design and implementation of a decentralized autonomous agent system. These artefacts deliver a formal problem representation structure related to centralized GRC in fractional ownership. We illustrate our solution with a system prototype and implementation. We evaluate the research outputs and compare them with existing GRC systems. This paper contributes to the understanding of GRC in supporting fractional ownership decision making.
dc.format.extent10
dc.identifier.doi10.24251/HICSS.2023.473
dc.identifier.isbn978-0-9981331-6-4
dc.identifier.other18001661-cc17-4c19-a7bd-26c2557ae6f0
dc.identifier.urihttps://hdl.handle.net/10125/103104
dc.language.isoeng
dc.relation.ispartofProceedings of the 56th Hawaii International Conference on System Sciences
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subjectEnterprise Blockchains
dc.subjectblockchain
dc.subjectcompliance
dc.subjectdecentralized autonomous organization
dc.subjectfractional ownership
dc.subjectgovernance
dc.subjectinformation asymmetry
dc.subjectrisk management
dc.titleBlockchain-based Governance, Risk Management, and Compliance for Fractional Ownership: Design and Implementation of A Decentralized Autonomous Agent System
dc.type.dcmitext
prism.startingpage3870

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