# kaal:claim:3071378-003

**Claim.** Because the public blockchain is public and immutable, the technology increases transparency while significantly reducing transaction costs, and intermediaries including lawyers are replaced by code, connectivity, crowd, and collaboration.

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

**Holds when.**

- public blockchains rather than private ones

**Source quote.**

> Because the blockchain (at the least the public blockchain) is in fact public and immutable, the technology increases transparency, while at the same time significantly reducing transaction costs. Intermediaries, including lawyers, are replaced by code, connectivity, crowd, and collaboration.24

**From.** Wulf A. Kaal, *Blockchain Technology and Race in Corporate America* (2017), II. Blockchain Technology, page 6

**Cite as.** Wulf A. Kaal, Blockchain Technology and Race in Corporate America (2017). SSRN: https://ssrn.com/abstract=3071378

**Verify.** sha256 of source PDF `125f01674d13b6bb0310c4be7a20ff538dccbc36ecf352770b3c580028387edd` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202017%20-%20Blockchain%20Technology%20and%20Race%20in%20Corporate%20America.pdf

**Topics.** economics, decentralization, law-and-legal-systems, education-and-practice, disclosure

**Keywords.** immutability, transaction-costs, disintermediation, legal-profession, transparency

**Related claims.**

- extends: https://wulfkaal.github.io/claims/2939127-015
- extends: https://wulfkaal.github.io/claims/2939127-014
- restated_by: https://wulfkaal.github.io/claims/3227967-020
- restates: https://wulfkaal.github.io/claims/2998033-001

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