kaal:claim:3411897-017

Because governance guarantees are embedded in blockchain code, there is no need for a principal to institute oversight and monitoring, which eliminates the associated agency costs.

Hence, in the blockchain infrastructure, there is no need for the principal to institute oversight and monitoring with the associated agency costs.

Wulf A. Kaal, Decentralization - Past, Present, and Future (2019), Part 2: The Present, The Brave New World of Decentralization, p. 25
https://ssrn.com/abstract=3411897 · source PDF

Wulf A. Kaal, Decentralization - Past, Present, and Future (2019). SSRN: https://ssrn.com/abstract=3411897

• assumes guarantees are genuinely enforced by the protocol

mechanismsupport: arguedblockchaincorporate-governancecompliancegovernance-design

• restates kaal:claim:3373393-021 Because governance guarantees are embedded in code, there is no need in the blockchain infrastructure for the ...
• restated_by kaal:claim:3808867-035 Blockchain based guarantees remove agency costs because principals are less required to institute oversight an...
• restates kaal:claim:3373393-018 Blockchain provides an alternative governance mechanism that eliminates agency costs, meaning the principal's ...
• extends kaal:claim:3373393-002 Blockchain technology produces a substantial increase in the efficiency of the agency relationship and lowers ...

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