Location

Online

Event Website

https://hicss.hawaii.edu/

Start Date

3-1-2023 12:00 AM

End Date

7-1-2023 12:00 AM

Description

Fractional ownership makes homeownership more affordable. But there are challenges in a fractional ownership real estate transaction (FORET) regarding governance, risk management and compliance (GRC) processes. Centralized GRC solutions are less effective in managing the tiered structure of communications in a FORET, which can lead to principal-agent problems such as information asymmetry, risk aversion, and moral hazard. In this research we investigate how these principal-agent problems in FORET could be mitigated. Using an agency theory perspective, we adopt a design science multimethodological research approach. We propose conceptual and system artefacts to support the design and implementation of a decentralized autonomous agent system. These artefacts deliver a formal problem representation structure related to centralized GRC in fractional ownership. We illustrate our solution with a system prototype and implementation. We evaluate the research outputs and compare them with existing GRC systems. This paper contributes to the understanding of GRC in supporting fractional ownership decision making.

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Jan 3rd, 12:00 AM Jan 7th, 12:00 AM

Blockchain-based Governance, Risk Management, and Compliance for Fractional Ownership: Design and Implementation of A Decentralized Autonomous Agent System

Online

Fractional ownership makes homeownership more affordable. But there are challenges in a fractional ownership real estate transaction (FORET) regarding governance, risk management and compliance (GRC) processes. Centralized GRC solutions are less effective in managing the tiered structure of communications in a FORET, which can lead to principal-agent problems such as information asymmetry, risk aversion, and moral hazard. In this research we investigate how these principal-agent problems in FORET could be mitigated. Using an agency theory perspective, we adopt a design science multimethodological research approach. We propose conceptual and system artefacts to support the design and implementation of a decentralized autonomous agent system. These artefacts deliver a formal problem representation structure related to centralized GRC in fractional ownership. We illustrate our solution with a system prototype and implementation. We evaluate the research outputs and compare them with existing GRC systems. This paper contributes to the understanding of GRC in supporting fractional ownership decision making.

https://aisel.aisnet.org/hicss-56/in/blockchain/4