# kaal:claim:3405401-027

**Claim.** Bitcoin proved that a decentralized system can automate the transfer of valuable digital currency without intermediaries and without a centralized authority for recourse, doing so efficiently, securely, cheaply and expeditiously.

**Type.** empirical  **Support.** argued

**Holds when.**

- digital currency transfer, not general business logic

**Source quote.**

> Bitcoin proved that a decentralized system can automate the transfer of valuable digital currency without intermediaries, no centralized authority for recourse, efficiently, securely, cheaply, and expeditiously.

**From.** Wulf A. Kaal, *Decentralized Commerce – A Primer on Why Decentralized Reputation Verification Systems Are Needed* (2019), VI. Decentralized Reputation as the Solution, page 8

**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.** tokenomics, decentralization

**Keywords.** bitcoin, decentralization, disintermediation, proof-of-concept

**Superseded by.** A later claim revises this one. Prefer quoting: https://wulfkaal.github.io/claims/3782198-024

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