# kaal:claim:3406323-031

**Claim.** Smart contracts remove centralized guarantors and self-regulate, with the consequence that only limited legal recourse is available if execution of the contract terms goes wrong.

**Type.** mechanism  **Support.** argued

**Source quote.**

> Most importantly, the smart contract removes centralized guarantors. The smart contract self-regulates. Only limited legal recourse is available if something goes wrong in the execution of the terms of the contract.

**From.** Wulf A. Kaal, *Decentralization - A Primer on the New Economy* (2019), VI. Evolution, page 16

**Cite as.** Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019). SSRN: https://ssrn.com/abstract=3406323

**Verify.** sha256 of source PDF `6293780b57a1ae1de17ec00f99cc94295d4f72ea4d08b17a5c08c44772b221db` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202019%20-%20Decentralization%20-%20A%20Primer%20on%20the%20New%20Economy.pdf

**Topics.** smart-contracts, law-and-legal-systems

**Keywords.** smart-contracts, legal-recourse, guarantors, self-regulation

**Related claims.**

- restates: https://wulfkaal.github.io/claims/3405401-008

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