# kaal:claim:3002908-015

**Claim.** 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.

**Type.** mechanism  **Support.** argued

**Holds when.**

- applies to decentralized distributed ledger designs

**Source quote.**

> 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, page 7

**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

**Verify.** sha256 of source PDF `06a7b61e75f905ee07e422e875d83a65c5033a248a6e05a213523b034e5db534` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Dell%27Erba%20-%202017%20-%20Blockchain%20Innovation%20in%20Private%20Investment%20Funds%20-%20A%20Comparative%20Analysis%20of%20the%20United%20States%20and.pdf

**Topics.** decentralization, blockchain

**Keywords.** disintermediation, distributed-ledger, clearing, decentralization

**Related claims.**

- extended_by: https://wulfkaal.github.io/claims/3227967-018

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