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All Journal Indonesian Community Empowerment Journal Enigma in Economics Enigma in Cultural
Caelin Damayanti
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Religion Arts Humanities Economics, Econometrics & Finance Languange, Linguistic, Communication & Media Medicine & Pharmacology Social Sciences

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The Future of the Firm: A Comparative Institutional Analysis of Transaction Costs in DAOs versus Traditional Corporations Benyamin Wongso; Caelin Damayanti; Muhammad Faiz; Anies Fatmawati; Aylin Yermekova; Delia Tamim; Dais Susilo; Danila Adi Sanjaya; Gayatri Putri
Enigma in Economics Vol. 3 No. 2 (2025): Enigma in Economics
Publisher : Enigma Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61996/economy.v3i2.94

Abstract

The emergence of Decentralized Autonomous Organizations (DAOs) presents a fundamental challenge to the traditional corporate form, which has dominated economic organization for over a century. Built on blockchain technology, DAOs propose a new model for coordinating economic activity. This study addressed the critical question of institutional efficiency by applying the lens of Transaction Cost Economics (TCE) to compare DAOs and traditional corporations. A comparative institutional analysis was conducted using a mixed-methods approach. We employed a multiple case study design, analyzing two representative DAOs and two analogous traditional corporations from Q1 2023 to Q4 2024. Data collection involved the systematic analysis of archival records, including 215 DAO governance proposals and corporate filings, and 32 semi-structured interviews with key participants. A novel analytical framework was developed to categorize transaction costs into ex ante (search, bargaining) and ex post (monitoring, enforcement), further distinguishing between 'on-chain' and 'off-chain' costs. The study revealed significant trade-offs between the two organizational forms. Traditional corporations exhibited high ex ante bargaining costs (legal, negotiation) and ex post monitoring costs (managerial overhead), but benefited from established legal frameworks that reduced enforcement uncertainty. Conversely, DAOs significantly lowered specific transaction costs through automation via smart contracts, particularly in on-chain bargaining and enforcement for codified tasks. However, DAOs incurred substantial, often hidden, new transaction costs related to off-chain social coordination, governance participation, and navigating legal ambiguity. This was termed the 'Governance Overhead Paradox'. In conclusion, DAOs do not represent a universally superior organizational form but rather a new point on an institutional possibility frontier. They are highly efficient for tasks that are global, permissionless, and computationally verifiable. Traditional firms retain advantages in contexts requiring complex, subjective decision-making and legal certainty. The future of the firm is likely not a replacement of one form by the other, but a pluralistic ecosystem where hybrid models emerge.
Integrating Kearifan Lokal (Local Wisdom) with Climate Adaptation Strategies: A Participatory Action Research on Enhancing Community Resilience and Achieving SDG 13 in Indonesia's Coastal Communities Jasmila Tanjung; Caelin Damayanti; Neva Dian Permana; Andi Fatihah Syahrir; Hesti Putri; Aman Suparman; Susi Diana
Indonesian Community Empowerment Journal Vol. 5 No. 2 (2025): Indonesian Community Empowerment Journal
Publisher : HM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37275/icejournal.v5i2.45

Abstract

Coastal communities in Indonesia face existential threats from climate change. Conventional top-down adaptation strategies often fail due to a disconnect from local socio-ecological realities, overlooking a critical resource: traditional ecological knowledge, or kearifan lokal. This study investigates a knowledge co-production model that synergizes kearifan lokal with modern climate science to build community resilience. We employed a 24-month, mixed-methods Participatory Action Research (PAR) design in three highly exposed coastal villages in North Java, Indonesia. Ethical protocols, including Free, Prior, and Informed Consent (FPIC), were foundational. Qualitative data were gathered from in-depth interviews (n=30), focus groups (n=12), and ethnographic observation. Quantitative data came from a pre-test/post-test household survey (n=450) measuring a validated, multi-dimensional Community Resilience Index (CRI). Interventions were co-designed, blending traditional practices like the pranata mangsa (ethno-astronomical calendar) and the wana tirta (mangrove philosophy) with scientific recommendations. A linear mixed-effects model was used to analyze changes in CRI scores. The co-designed strategies led to a statistically significant increase in the mean CRI from a baseline of 2.8 (SD=0.65) to 4.2 (SD=0.48) post-intervention (p<0.001). Significant improvements were observed across all resilience dimensions, most notably in Economic Capital (+59.1%) and Adaptive Capacity & Governance (+51.7%). The revitalization of practices such as the restoration of 50 hectares of mangroves, guided by both wana tirta principles and scientific species selection, enhanced coastal protection and local livelihoods. In conclusion, the co-production of knowledge, facilitated through a PAR framework, is a potent mechanism for building effective, culturally embedded, and sustainable climate resilience. This model empowers communities as active agents in their adaptation journey and offers a scalable, evidence-based pathway for achieving SDG 13 in Indonesia and other climate-vulnerable nations.
Curating Dissent: Indigenous Artistic Interventions as Counter-Narratives in Settler-Colonial Archives Mary-Jane Wood; Caelin Damayanti; Dian Rahayu; Sandro Louise Oliveirra; Muhammad Hasan
Enigma in Cultural Vol. 3 No. 1 (2025): Enigma in Cultural
Publisher : Enigma Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61996/cultural.v3i1.101

Abstract

Settler-colonial archives have historically functioned as instruments of state power, perpetuating narratives that erase or marginalize Indigenous peoples' histories, knowledges, and sovereignties. This study investigated the growing phenomenon of contemporary Indigenous artistic interventions within these institutions, framing them as critical acts of "curating dissent" that challenge the archival claim to objective truth. This research employed a qualitative, comparative case study methodology to analyze three distinct, institutionally-sanctioned artistic interventions in major settler-colonial archives in Canada, Australia, and New Zealand between 2020 and 2024. A multi-modal data collection strategy included visual analysis of the artworks, textual analysis of archival records, and thematic analysis of 25 semi-structured interviews with artists, curators, and community members. The analysis revealed three primary strategies of intervention: (1) "Re-contextualization and Juxtaposition," which disrupts colonial classifications by placing Indigenous epistemologies alongside archival records; (2) "Embodied Knowledge and Affective Encounters," which uses performance and sensory elements to reanimate ancestral connections within the archive; and (3) "Digital Sovereignty and Archival Remixing," which leverages digital tools to reclaim and re-narrate colonial documents. Institutional responses ranged from enthusiastic collaboration to forms of negotiated resistance and containment. In conclusion, within the specific context of sanctioned projects, Indigenous artistic interventions function as potent decolonial practices that create new spaces for Indigenous knowledge and memory to flourish. This study proposes the concept of "Archival Acupuncture," a theoretical framework for understanding how these targeted, therapeutic interventions can systemically alter the narrative body of the archive to foster restorative justice. These acts signal a critical shift, demanding archives become active partners in a more just future.
Virtual Veneration: A Critical Inquiry into the Sacralization and Valorization of Digital Heritage in the Metaverse Ifah Shandy; Kevin Setiawan; Khalil Jibran; Caelin Damayanti
Enigma in Cultural Vol. 3 No. 2 (2025): Enigma in Cultural
Publisher : Enigma Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61996/cultural.v3i2.111

Abstract

The emergence of the metaverse presents a paradigm shift for how cultural heritage is experienced and valued. While technical digitization is well-studied, the socio-cultural processes by which digital objects acquire profound, quasi-sacred meaning remain critically underexplored. This study undertakes a critical inquiry into "virtual veneration," examining the mechanisms through which digital artifacts are sacralized and valorized within metaverse environments. A sequential explanatory mixed-methods design was employed. Phase one involved a qualitative thematic analysis of three leading metaverse platforms (Decentraland, The Sandbox, VRChat) to identify key features of value creation. Phase two was a large-scale quantitative analysis of behavioral data from a diverse cohort of 10,000 users within the Virtual Artifact Interaction Model (VAIM), a controlled experimental environment. Acknowledging the philosophical limits of measuring "sacredness," we developed a composite "Index of High-Value Collective Attention" (HVCA) based on metrics of dwell time, interaction frequency, and social signal amplification to operationalize the behavioral markers of veneration. The qualitative analysis revealed three core themes: "The Architecture of Awe," "Ritualized Communitas," and "The Aura of Scarcity." The quantitative analysis demonstrated that "Community Narrative" was the most powerful predictor of an artifact's HVCA score (), far exceeding the impact of authenticity or scarcity. A significant synergistic effect was found between environmental conditions of "Exclusive Access" and "Ritualistic Interaction" (), confirming that architectural framing and social protocols work in concert. Social proof directed 65.4% of user attention, indicating that valorization is a socially contingent and path-dependent process. In conclusion, the sacralization of digital heritage is a complex socio-technical process contingent on platform design, community ritual, and perceived authenticity. However, this study concludes that these mechanisms, particularly when mediated by speculative economies, create a "networked aura" that functions as a political inversion of Walter Benjamin's original concept, re-ritualizing art for markets. The findings suggest the emergence of a "hyper-sacred"—emotionally potent but ontologically unmoored—posing profound ethical and philosophical questions for the future of cultural value.
Beyond Tenure: A Quasi-Experimental Causal Analysis of Community Forest Management on Peatland Biodiversity, Carbon Stocks, and Management Efficacy in Sumatra Jasmila Tanjung; Sarah Armalia; Jovanka Andina; Caelin Damayanti
Indonesian Community Empowerment Journal Vol. 5 No. 1 (2025): Indonesian Community Empowerment Journal
Publisher : HM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37275/icejournal.v5i1.54

Abstract

Indonesia's Hutan Desa (HD, Village Forest) program is a cornerstone of global social forestry, yet its causal ecological impacts remain contested. Rigorous, counterfactual-based evidence is urgently needed to validate this policy intervention, particularly in globally critical peat-swamp landscapes. This study employed a quasi-experimental design, using Propensity Score Matching (PSM) to construct a statistically balanced sample of 40 HD (treatment) and 40 non-HD (control) village units in Sumatran peatlands. We analyzed data from 400 1-hectare permanent sample plots (5 plots nested per village). We assessed floral diversity (Shannon-Wiener Index, H'), faunal presence, and ecosystem carbon stocks (Above-Ground, AGB; Soil Organic Carbon, SOC). Causal impacts were quantified using Linear Mixed-Effects Models (LMMs) to account for the nested data structure. We further analyzed the "treatment effect" by modeling dose-response relationships for permit duration and management intensity. After matching, LMMs revealed that HD management has a significant positive causal effect on all ecological outcomes. Floral diversity was significantly higher in HD plots (H' = 2.92) versus control plots (H' = 2.18; F(1, 78) = 48.21, p < 0.001). Total ecosystem carbon stocks (AGB + SOC in top 100cm) were 36% higher in HD units (255.1 Mg C ha⁻¹) compared to controls (187.3 Mg C ha⁻¹; F(1, 78) = 53.09, p < 0.001). This was driven by a significant preservation of SOC. Dose-response models further showed that ecological benefits (such as AGB) accumulate significantly with increased permit duration and that higher management intensity is a strong predictor of biodiversity. In conclusion, our findings provide robust, hierarchical evidence that HD management is an effective conservation and climate mitigation strategy. By establishing tenure, enabling active stewardship, and, crucially, protecting peatland hydrology, the HD model delivers verifiable, causal improvements to biodiversity and carbon stocks.
Co-Authors Aman Suparman Andi Fatihah Syahrir Anies Fatmawati Aylin Yermekova Benyamin Wongso Dais Susilo Danila Adi Sanjaya Delia Tamim Dian Rahayu Gayatri Putri Hesti Putri Ifah Shandy Jasmila Tanjung Jovanka Andina Kevin Setiawan Khalil Jibran Mary-Jane Wood Muhammad Hasan Neva Dian Permana Nurwijayanti Sandro Louise Oliveirra Sarah Armalia Susi Diana