kaal:claim:3002908-015

Distributed networks disintermediate: because validation is distributed, a centralized validating entity such as a central bank or clearing house is not necessary to record and validate transactions.

Source quote, verbatim

Distributed networks disintermediate. The intermediation of a centralized validation entity (a central bank or a clearing-house) in charge of recording and validating the transactions is not necessary in a decentralized network.

From

Wulf A. Kaal, Marco Dell'Erba, Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and (2017), II. Blockchain Technology, p. 7
https://ssrn.com/abstract=3002908 · source PDF

Cite as

Wulf A. Kaal, Marco Dell'Erba, Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and (2017). SSRN: https://ssrn.com/abstract=3002908

Holds when

applies to decentralized distributed ledger designs

Classification

mechanismsupport: argueddecentralizationblockchain

Related claims

extended_by kaal:claim:3227967-018 Because blockchain network nodes verify, validate and audit transactions both before and after execution, the ...

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