# kaal:claim:3373393-026

**Claim.** Agency relationships embedded in smart contracts run exactly as coded, without any possibility of opportunistic behavior by the agent, and all contractual terms are public and fully transparent.

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

**Holds when.**

- simple agency relationships; the author later qualifies this for complex relationships

**Source quote.**

> Agency relationships in smart contracts run exactly as coded without any possibility of opportunistic behavior of the agent. All contractual terms are public and fully transparent.

**From.** Wulf A. Kaal, *Blockchain Solutions for Agency Problems in Corporate Governance* (2019), III.1 Blockchain Guarantees, page 16

**Cite as.** Wulf A. Kaal, Blockchain Solutions for Agency Problems in Corporate Governance (2019). SSRN: https://ssrn.com/abstract=3373393

**Verify.** sha256 of source PDF `4d1424b9ba9aff8a61bc7a0dddd02cded93785e5843685dde76c07dcdb23961e` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202019%20-%20Blockchain%20Solutions%20for%20Agency%20Problems%20in%20Corporate%20Governance.pdf

**Topics.** smart-contracts, disclosure

**Keywords.** smart-contracts, opportunism, transparency, agency-relationship

**Superseded by.** A later claim revises this one. Prefer quoting: https://wulfkaal.github.io/claims/3441904-028

**Related claims.**

- contested_by: https://wulfkaal.github.io/claims/3405401-017
- generalizes: https://wulfkaal.github.io/claims/4685567-033

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