# kaal:claim:3405401-006

**Claim.** Automation in smart contracting reduces negotiation between counterparties to near minimal levels and removes almost all of the transaction costs typically associated with contracting.

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

**Source quote.**

> Negotiation between counterparties is near minimal, transaction cost typically associated with contracting are almost entirely removed by the automation.

**From.** Wulf A. Kaal, *Decentralized Commerce – A Primer on Why Decentralized Reputation Verification Systems Are Needed* (2019), III. Benefits of Smart Contracts, page 5

**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, negotiation, automation

**Related claims.**

- extended_by: https://wulfkaal.github.io/claims/3406323-030
- restates: https://wulfkaal.github.io/claims/3373393-025
- contested_by: https://wulfkaal.github.io/claims/5554218-022

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