Key Takeaways:
– There are administrative elements within the Bitcoin protocol that can be installed in corporate policy to enhance employee efficiency.
– Installing decentralized policies can increase work-life morale, transparency, and individual autonomy in the workplace.
– Decentralization of intelligence can potentially increase employee performance.
– There are potential benefits to enabling employees to officially resolve work-life situations in real-time utilizing decentralized policies.
Forward-thinking companies may begin to consider the installation of some of the characteristics of the bitcoin protocol in company policy. The protocol has underlying principles that can improve any company’s efficiency.
For example, companies on the cutting edge already utilize open-source networks for quick and efficient communication. Voice-over Internet Protocols like Zoom, Google Meet, and Skype are a great way to communicate swiftly in the workplace. In similar fashion, Bitcoin may one day be considered the “Money Over Internet Protocol” (MOIP). Bitcoin is an open-source network utilized for quick and efficient transfer of value.
Billion dollar companies such as Microstrategy and Cash App (Block) are working towards the implementation of the bitcoin monetary network at scale on an enterprise and peer-to-peer level, respectively.
However, there are other administrative elements of the bitcoin protocol that can be installed within the company policy to further distinguish any company as a pioneer.
Consensus Voting
One characteristic of the bitcoin protocol is that consensus of computers (nodes) must reach 51% of the entire network for the blockchain to be updated (the data).
Is it possible for a company to implement a policy change that says you must receive a 51% majority vote?
Installing a democratic policy such as consensus voting would allow for more transparency and individual autonomy in the workplace. Depending on the company and the policy that’s being voted on, some policy changes may not be eligible for a companywide vote, but there may be some policy changes that are eligible for a company wide consensus vote.
A companywide “51% consensus” vote on certain policy changes like annual changes in an employee benefits package seems like a reasonable possibility in the future for all companies to consider.
Bitcoin Protocol + Corporate Policy = Decentralized Autonomy
The concept of compounding the bitcoin protocol with a corporate policy is essentially the tangible equivalent to a Decentralized autonomous organization (DAO). A decentralized autonomous organization is a system in which tokenholders engage in an institution’s operation and decision-making. A DAO has no central authority; instead, its authority is distributed among tokenholders who vote collectively. All votes and activities through the DAO are recorded on a blockchain, making all user actions transparent.
This would be a groundbreaking policy change for any business, let alone a publicly traded company, as there aren’t any publicly traded companies that have a high degree of decentralized autonomy, if any. Soon though, there may one day soon be a major corporation that identifies as a “Decentralized Autonomous Entity.”
Installing a decentralized autonomous process on internal policy changes is almost iconoclastic, as it challenges traditional policies in the workplace. However, if certain elements within the bitcoin protocol are carefully integrated within company policy, it will increase the collective employee morale of any company. Of course, there are regulatory barriers that may prevent this feature from ever being implemented on a large scale.
Regulatory institutions have yet to issue any sort of definitive legislation. Is a DAO a security if nobody owns it? Is it a commodity? Is it something else? Nevertheless, consideration of these concepts are compelling enough that they might eventually be installed by large and small businesses.
Decentralized Intelligence
Additionally, Bitcoin is fully decentralized, which makes its security robust and its ledger extremely precise. To further secure a company’s internal intelligence, it may be a good idea to decentralize the collective intelligence within the company (at least amongst each other in their respective departments).
For example, some employees should have access to a source of decentralized collective intelligence on certain assignments given to them, which is directly related to improving company performance and/or employee morale. Decentralization of intelligence will make operations and perhaps other departments within the company much more secure and efficient.
Decentralized Chain-Of-Command
Not only should the intelligence within company departments be decentralized, the chain of command should also have a peer-to-peer, permission-less structure.
A peer-to-peer chain of command would allow for an employee to add hours on their schedule that someone else called out on without the need for approval of a supervisor. If someone wishes to work a double or an extra day because someone else called out, then they should have permission-less access to adding those hours (there may be limits to how long an employee can work every 24 hours, as labor laws vary from state to state).
Decentralization of the chain-of-command will also allow employees to disclose sensitive information with whom they ultimately feel comfortable sharing it with most.
For example, an employee may need to disclose information about a personal situation that may render them absent from work, but the only coworker they feel comfortable talking to is in a non-supervisory role.
The person they deem comfortable disclosing information to (employee) should have the autonomy to sign-off on an excused absence regarding a situation that an employee does not wish to disclose with anyone else. Allowing employees to resolve certain situations with whom they deem fit in real-time will increase employee morale as well as significantly increase efficiency in administrative duties.
Conclusion
There may be some limits to the implementation of the Bitcoin protocol within corporate policy. The great thing about an idea is that it can also be modified or replaced with other ideas that are even more practical and efficient. At the very least, we should take into careful consideration the implementation of decentralized policies in corporations such as consensus voting, decentralized intelligence, as well as a decentralized chain-of-command within the workplace.
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