# kaal:claim:2992962-025

**Claim.** Coding regulatory conditions into smart contracts lowers regulators' cost of supervision and enforcement while substantially increasing their oversight, because a smart contract cannot execute unless all regulatory conditions and parameters are fully complied with.

**Type.** design  **Support.** argued

**Holds when.**

- hybrid approach where existing legal rules are coded as smart contract parameters

**Source quote.**

> Second, because smart contracts cannot execute unless all regulatory conditions and parameters are fully complied with, regulators lower their cost of supervision and enforcement while substantially increasing their oversight

**From.** Wulf A. Kaal, Craig Calcaterra, *Crypto Transaction Dispute Resolution* (2017), b) Coding Existing Law Into Smart Contracts, page 44

**Cite as.** Wulf A. Kaal, Craig Calcaterra, Crypto Transaction Dispute Resolution (2017). SSRN: https://ssrn.com/abstract=2992962

**Verify.** sha256 of source PDF `80b92e67594394e38af41b769327936833de8e25d6cf3def966a6ba13bc83d17` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Calcaterra%20-%202017%20-%20Crypto%20Transaction%20Dispute%20Resolution.pdf

**Topics.** compliance, smart-contracts

**Keywords.** regtech, compliance-by-design, smart-contracts, supervision-costs

**Related claims.**

- contested_by: https://wulfkaal.github.io/claims/4796714-015

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