kaal:claim:3441904-012

Barzel's rationale for the firm, the added efficiency of a centralized production monitoring agency, becomes largely irrelevant under efficient smart contracting, because the smart contract performs the production monitoring function and largely removes agents.

Source quote, verbatim

is also largely irrelevant with efficient smart contracting as the smart contract performs the production-monitoring function and largely removes agents.

From

Wulf A. Kaal, Blockchain-Based Corporate Governance (2019), II.3 The Theory of the Firm Revisited, p. 11
https://ssrn.com/abstract=3441904 · source PDF

Cite as

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

Holds when

efficient smart contracting environments

Classification

mechanismsupport: arguedcompliancesmart-contracts

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