Blockchain technology and corporate social responsibility reporting: A symbiotic relationship for enhanced transparency, trust, and governance
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Abstract
In a time of increased corporate accountability, the integration of blockchain technology into corporate social responsibility (CSR) reporting presents a revolutionary option. This paper examines the efficacy of blockchain in improving trust, transparency, and accountability in CSR reporting, while addressing the shortcomings of conventional techniques. By employing a structured decision-making framework and analyzing existing literature, we assess the potential of blockchain to revolutionize CSR reporting, focusing on its immutability, transparency, and decentralized nature. The findings indicate that blockchain technology, especially permissionless public blockchains, is particularly advantageous for CSR reporting, as it provides a shared, unchangeable database for various stakeholders with possible trust concerns. Recognizing the ongoing significance of current stakeholders such as governments and standard-setting bodies, we suggest that blockchain can function as an integrative platform, redefining their roles and alleviating their limitations. This research enhances the existing literature on blockchain applications in CSR reporting, emphasizing its capacity to cultivate trust, generate beneficial social and environmental outcomes, and encourage sustainable business practices.
Keywords: Blockchain Technology, CSR Reporting, Immutability, Transparency, Smart Contracts, Decentralized Autonomous Organization, DAO
Authors’ individual contribution: The Author is responsible for all the contributions to the paper according to CRediT (Contributor Roles Taxonomy) standards.
Declaration of conflicting interests: The Author declares that there is no conflict of interest.
JEL Classification: L86, M14, O33
Received: 08.07.2024
Revised: 14.10.2024; 05.02.2025; 12.05.2025
Accepted: 03.06.2025
Published online: 06.06.2025
How to cite this paper: Mohammad, S. J. (2025). Blockchain technology and corporate social responsibility reporting: A symbiotic relationship for enhanced transparency, trust, and governance [Special issue]. Journal of Governance & Regulation, 14(2), 333–340. https://doi.org/10.22495/jgrv14i2siart12