# kaal:claim:3405401-005

**Claim.** Smart contracts benefit business by simplifying and automating transactions, removing transaction costs, and creating certainty for counterparties, and they are inexpensive to run on a blockchain.

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

**Source quote.**

> Smart contracts are intended to simplify and automate business, removing transaction costs and creating certainty for counterparties. They make business transactions fully secure and efficient. It is also inexpensive to run smart contracts on a blockchain.

**From.** Wulf A. Kaal, *Decentralized Commerce – A Primer on Why Decentralized Reputation Verification Systems Are Needed* (2019), III. Benefits of Smart Contracts, page 4

**Cite as.** Wulf A. Kaal, Decentralized Commerce – A Primer on Why Decentralized Reputation Verification Systems Are Needed (2019). SSRN: https://ssrn.com/abstract=3405401

**Verify.** sha256 of source PDF `bc2d6f0ddc0852fb4085c4543c7c1dec19aaf8745eb67e3acc637e552bd7fb7d` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202019%20-%20Decentralized%20Commerce%20%E2%80%93%20A%20Primer%20on%20Why%20Decentralized%20Reputation%20Verification%20Systems%20Are%20Needed.pdf

**Topics.** smart-contracts, economics

**Keywords.** smart-contracts, transaction-costs, efficiency, business-benefits

**Related claims.**

- contested_by: https://wulfkaal.github.io/claims/5554218-022
- restates: https://wulfkaal.github.io/claims/3373393-025
- supports: https://wulfkaal.github.io/claims/2922176-020
- restated_by: https://wulfkaal.github.io/claims/5254152-006

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