As blockchain digital assets become more common, directors believe they will influence roles and responsibilities in the boardroom.
The once-niche market for blockchain digital assets (BCDAs), such as cryptocurrencies, stable coins, and non-fungible tokens (NFTs), has gone mainstream. Major retailers accept Bitcoin for payments, and crypto trading platforms have gone public. Despite the recent downturn in the crypto economy, other types of BCDAs are increasingly popular and proving useful to business and consumers. As a result, some boards are no longer able to ignore the opportunity or disruptive impact they could have on business.
“Cryptocurrencies are quickly becoming a more common form of currency,” says Dottie Schindlinger, executive director of the Diligent Institute, the corporate governance research arm and think tank of Diligent. “With increased attention from stakeholder groups, investors, and regulators, trends around cryptocurrency and other BCDAs should be something directors have a pulse on.”
FORTUNE, Commentary, “How boards are preparing for the rise of crypto“