Because a public blockchain is genuinely public and immutable, it increases transparency while simultaneously and significantly reducing transaction costs.
Source quote, verbatim
Because the blockchain (at the least the public blockchain) is in fact public and immutable, the technology increases transparency, while at the same time significantly reducing transaction costs.
From
Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, Legal Education in the Blockchain Revolution (2017), III. Blockchain Ledger Technology, p. 17 https://ssrn.com/abstract=2939127 · source PDF
Cite as
Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, Legal Education in the Blockchain Revolution (2017). SSRN: https://ssrn.com/abstract=2939127
Holds when
public blockchains rather than consortium or fully private blockchains
extended_bykaal:claim:3071378-003 Because the public blockchain is public and immutable, the technology increases transparency while significant...
restated_bykaal:claim:3227967-020 Blockchain replaces intermediaries, bureaucracy and old fashioned procedures with the four Cs of code, connect...
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