Decentralized Governance: Leveraging Blockchain for Ethical and Transparent Business Practices in Kuwait Abstract.
Corporate governance in Kuwait faces growing challenges related to transparency, accountability, fraud prevention, and ethical decision-making, particularly in light of recent cryptocurrency fraud cases that exposed vulnerabilities in centralized financial systems.
Traditional governance models often suffer from inefficiencies, opaque decision-making, and corruption risks, highlighting the need for secure, decentralized solutions that promote ethical business practices. This paper presents a practical approach to implementing blockchain technology for fraud-resistant and ethically driven governance frameworks.
By leveraging immutable ledgers, smart contracts, and decentralized consensus mechanisms, organizations can enhance trust, compliance, operational efficiency, and ethical responsibility. In addition to theory, this research showcases how blockchain can be structured to mitigate fraud risks and improve corporate governance integrity. Using an Agile methodology combined with the System Development Lifecycle (SDLC), this study follows a structured, iterative approach that includes analyzing governance vulnerabilities, designing blockchain-based governance frameworks, and evaluating security, transparency, and scalability through usability testing.
By incorporating blockchain into corporate governance, this research highlights its potential to create more transparent, ethical, and fraud-resistant business environments in Kuwait. Key words : Blockchain, Decentralized Governance, Corporate Transparency, Smart Contracts, Fraud Prevention, Ethics, Kuwait
