# kaal:claim:3411110-012

**Claim.** Transfer agents become unnecessary in blockchain based trading models because every function they perform, including maintaining the holding record, can be automated in code and is already produced by the ledger's design.

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

**Holds when.**

- fully blockchain based trading and settlement models

**Source quote.**

> In blockchain- based trading models, transfer agents will not be needed because every task they preform can be automated through coding.

**From.** Wulf A. Kaal, Samuel Evans, *Blockchain-Based Securities Offerings* (2019), III.1 Cost Reduction, page 15

**Cite as.** Wulf A. Kaal, Samuel Evans, Blockchain-Based Securities Offerings (2019). SSRN: https://ssrn.com/abstract=3411110

**Verify.** sha256 of source PDF `c7626eeb7642045b79f8745df1f7232a8fe8bc44a1f7e87b592850e35b392b50` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Evans%20-%202019%20-%20Blockchain-Based%20Securities%20Offerings.pdf

**Topics.** ai-and-agents, decentralization, economics

**Keywords.** transfer-agents, disintermediation, automation, market-participants

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