Incentives for Sustainable Governance in Blockchain-Based Organizations ^†

This study analyzes how blockchain technology can be interpreted through an economic perspective, viewing network nodes as rational agents whose strategic behavior affects the efficiency and sustainability of decentralized systems. Using a multi-player non-cooperative game with complete but imperfect information, we model validators’ decisions in voting-based consensus mechanisms and compare alternative incentive configurations through simulation results. The analysis shows how variations in reward schemes influence validators’ behavior and consensus reliability. Extending the framework to Decentralized Autonomous Organizations (DAOs), the study explores how blockchain-based incentives can enhance participation, accountability, and decentralized governance. The findings highlight that incentive design plays a decisive role in aligning individual motivations with collective goals, ensuring both network integrity and long-term sustainability. Overall, this study connects economic theory with blockchain governance, extending its relevance to business and organizational contexts beyond cryptocurrencies.