The Future of Cryptocurrency and Its Effect on Organizational Structure, Culture, and Change

The Future of Cryptocurrency and Its Effect on Organizational Structure, Culture, and Change

Copyright: © 2023 |Pages: 25
DOI: 10.4018/978-1-6684-8368-8.ch006
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Abstract

Some of the constraints that cryptocurrencies now face, such as the fact that one's digital wealth might be lost in the event of a computer breakdown, may in the future be solved by technical advancements. Organizational structure, power distribution, and decision-making capacity are susceptible to disruption as a result of technological development. Consequently, culture will become fragile if executives do not take the essential steps to go ahead. Given that disruption will alter the present world, the time has come to comprehend blockchain and its consequences for corporate culture. This chapter discusses the future of cryptocurrencies and their impact on corporate culture and structure.
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Concept Of Cultural Effects

Culture impacts action by building a repertory or “toolkit” of styles, abilities, and habits from which individuals create “action strategies” (Swidler, 1986). “culture for open innovation dynamics” may take somewhat more effort than “the development of culture.”

The trope of the day is to situate the cultural dilemma in the “beyond” domain. The “beyond” is neither a fresh outlook nor a departure from the past. The enduring mythologies of the middle years could be those of beginnings and ends. “Beyond” refers to a restless movement that has become popular everywhere, on all sides, in all directions, and back and forth (Grant & Mayer, 2009). If the idea that culture is a kind of innovation, is accepted, it is also likely that impression management goals increase the link between affiliative citizenship and altruistic goals by enticing staff members to demonstrate their altruism in ways that “do” and “look” good (Simon, 1993).

When a group is competing with other groups, altruism, which is defined in evolutionary economics as conduct that lowers an actor's fitness while boosting the fitness of others (in other words, it is a unique culture of economic behavior), raises the chances of the group surviving. In evolutionary economics, constrained rationality also results in the docile nature of economic actors, which benefits human fitness. Social influences (as a unique culture of economic behavior) often provide us counsel that is “for our benefit,” along with the knowledge on which this advice is based (DiMaggio, 1997).

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