LEVERAGING BLOCKCHAIN TECHNOLOGY FOR ENHANCED CORPORATE GOVERNANCE: IMPLICATIONS FOR CYBERSECURITY IN ZIMBABWE

Abstract:

Blockchain has emerged as a disruptive technology in the development of corporate governance and cybersecurity systems all over the globe. In Zimbabwe, the corporate environment suffers from chronic problems such as inadequate data protection, high levels of opacity, and insufficient responsibility. Centralized traditional governance systems are often associated with fraud, cybercrime, and non-compliance with regulations. This study sought to analyze the impact of adopting blockchain technology in Zimbabwe's private sector while focusing on governance and cybersecurity issues. First, the accumulating features of blockchain ledger technology were analyzed regarding its potential for improving transparency, data security, and automated compliance via smart contracts. The study adopted a quantitative research methodology and gathered information using questionnaires through sixty participants drawn using purposive sampling. First-hand knowledge was gathered from corporate governance specialists, information technology experts, and cybersecurity analysts. The research utilized blockchain technology with a focus on assessing its potential and effectiveness in addressing fraud, data abuse, and compliance within the corporate governance processes. The results offered strategic guidance on the adoption of blockchain technology in Zimbabwe, with emphasis on corporate governance and cybersecurity integration at the core of the recommendations.