kaal:claim:2998033-001

Blockchain technology lowers transaction costs by eliminating intermediaries, and it substitutes immutability and cryptography for the trust that intermediaries previously supplied.

Source quote, verbatim

Blockchain technology's elimination of intermediaries removes transaction costs and creates a platform for trust through truth and transparency for parties through its immutability and use of cryptography.

From

Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017), II. Blockchain Technology, p. 5
https://ssrn.com/abstract=2998033 · source PDF

Cite as

Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033

Classification

mechanismsupport: asserteddecentralizationeconomicsreputationconsensus-and-securitycitation-and-knowledge

Related claims

generalizes kaal:claim:3373393-019 The immutability of the blockchain and its cryptographic security systems provide transactional guarantees tha...
restated_by kaal:claim:5254152-006 Smart contracts, as self executing contracts with terms written directly into code, remove the need for interm...
extended_by kaal:claim:3406323-012 Decentralized technologies increase consumer and market trust at unprecedented scale, which lowers transaction...
restated_by kaal:claim:3071378-003 Because the public blockchain is public and immutable, the technology increases transparency while significant...

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Positions extending this scholarly claim