The possible impact of blockchain based shareholder governance, including shareholder voting, has been a hot topic in recent years. We’ve covered a number of potential intersections between blockchain and corporate governance (including appraisal) before. Professor Christopher Brunor of the University of Georgia reviews a recent scholarly proposal for blockchain based shareholder governance in this recent piece. While appraisal changes represent only a small portion of the possible changes blockchain based governance could bring, it also is an area where the fault lines between the old – fungible bulk – system appear and are perhaps most likely to be litigated. Pre-blockchain governance cases dealing with fungible bulk may have little application in a post-blockchain governance world; but that also depends on what kind of blockchain governance structure one adopts. In other words, appraisal is a likely place where blockchain governance will face litigation that affirms (or negates) the underlying premises of much of this scholarly attention.