The application of blockchain technology in the corporate bodies of cooperatives

Abstract

The application of blockchain technology can provide transparency and security in commercial and business transactions and communications, enabling its application in the corporate bodies of commercial companies the direct identification of the participants, for example, in the holding of telematic meetings, or facilitating other rights of partners and shareholders such as the right to information and voting. However, despite guaranteeing in these transactions the authenticity and trust in the information, the integrity of the data and its non-alteration, this type of technology may present certain practical vulnerabilities (security failures), but also regulatory vulnerabilities, as has been stated by the commercial doctrine in terms of liability. In this study we aim to go beyond the use of blockchain in capital companies, bearing in mind the opportunities it presents for cooperatives, where transparency in communications and the participation of members in management is essential, highlighting that this would require the necessary adaptation of the applicable regulations.