Smart contracts enable anonymous parties to engage in decentralized commerce because automated contracting self-executes and self-regulates according to mathematical strictures, removing the need for agency and intermediaries almost entirely.
Source quote, verbatim
Smart contracts allow anonymous parties to engage in decentralized commerce by providing automated contracting that self-executes and self-regulates according to mathematical strictures.
Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019). SSRN: https://ssrn.com/abstract=3406323
Holds when
smart contracts running on a blockchain
Classification
mechanismsupport: arguedsmart-contractseconomics
Related claims
extendskaal:claim:3405401-003 Smart contracts make decentralized commerce between anonymous parties possible because they provide automated ...
restated_bykaal:claim:5254152-006 Smart contracts, as self executing contracts with terms written directly into code, remove the need for interm...
extendskaal:claim:3405401-006 Automation in smart contracting reduces negotiation between counterparties to near minimal levels and removes ...
extendskaal:claim:3373393-025 Smart contracts enabled by blockchain technology allow comprehensive, near error free, and zero transaction an...
extendskaal:claim:3405401-007 The inherent mathematical logic of computerized code in smart contracts can clarify the parties' intent optima...
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