# kaal:claim:3249860-004

**Claim.** Decentralized solutions can challenge the basic assumptions of the theory of the firm, because the role of the firm changes if decentralized technology lowers the cost of using markets exponentially.

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

**Holds when.**

- if decentralized solutions actually lower transaction costs for a significant portion of market transactions

**Source quote.**

> Decentralized solutions for human interaction can challenge the basic assumptions of the theory of the firm. In other words, the role of the firm may change if decentralized solutions help lower the cost of using markets exponentially.

**From.** Wulf A. Kaal, *Crypto Economics - The Top 100 Token Models Compared* (2018), II.2 Challenging the Theory of the Firm, page 6

**Cite as.** Wulf A. Kaal, Crypto Economics - The Top 100 Token Models Compared (2018). SSRN: https://ssrn.com/abstract=3249860

**Verify.** sha256 of source PDF `72b13f11002ba26206cd53e74c324b913d1830c642bfa024da6bac0d3af3a7b0` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202018%20-%20Crypto%20Economics%20-%20The%20Top%20100%20Token%20Models%20Compared.pdf

**Topics.** economics, decentralization

**Keywords.** theory-of-the-firm, transaction-costs, decentralization, coase

**Related claims.**

- extended_by: https://wulfkaal.github.io/claims/3441904-011

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