# kaal:claim:3441904-006

**Claim.** Without evolutionary governance upgrades to blockchain protocols, the cost reduction that blockchain brings to the agency relationship cannot be maintained.

**Type.** condition  **Support.** argued

**Holds when.**

- a changing environment for blockchain based coded guarantees

**Source quote.**

> Without evolutionary governance upgrades the cost reduction for the agency relationship cannot be maintained.

**From.** Wulf A. Kaal, *Blockchain-Based Corporate Governance* (2019), I. Introduction, page 8

**Cite as.** Wulf A. Kaal, Blockchain-Based Corporate Governance (2019). SSRN: https://ssrn.com/abstract=3441904

**Verify.** sha256 of source PDF `e6b562527f7f19accaa35491db0a0db168b6a936755e1dca424e9f30bee7a815` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202019%20-%20Blockchain-Based%20Corporate%20Governance.pdf

**Failure mode.** unmaintained-cost-reduction  (family: rule-obsolescence-and-ossification)

**Topics.** corporate-governance, governance-design, blockchain

**Keywords.** agency-cost, protocol-upgrade, dynamic-governance, blockchain

**Related claims.**

- restates: https://wulfkaal.github.io/claims/3373393-040
- extended_by: https://wulfkaal.github.io/claims/3808873-033

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.