# kaal:claim:2998033-001

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

**Type.** mechanism  **Support.** asserted

**Source quote.**

> 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, page 5

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

**Verify.** sha256 of source PDF `aafb1be3c25cd33da477d759df9ca2f856f0a8fe133d6396da2e75d0af573dbd` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202017%20-%20Blockchain%20Innovation%20for%20Private%20Investment%20Funds.pdf

**Topics.** decentralization, economics, reputation, consensus-and-security, citation-and-knowledge

**Keywords.** disintermediation, transaction-costs, trust, cryptography, immutability

**Related claims.**

- generalizes: https://wulfkaal.github.io/claims/3373393-019
- restated_by: https://wulfkaal.github.io/claims/5254152-006
- extended_by: https://wulfkaal.github.io/claims/3406323-012
- restated_by: https://wulfkaal.github.io/claims/3071378-003

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.