# kaal:claim:3441904-020

**Claim.** Fiduciary duties are less relevant in DAOs because the disciplining effect of such duties on management conduct is less needed where centralized management is minimal and there are fewer or no supervisors.

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

**Holds when.**

- DAO structures with minimal centralized management

**Source quote.**

> The disciplining effect of fiduciary duties on management's conduct is less needed because centralized management is minimal in DAOs.

**From.** Wulf A. Kaal, *Blockchain-Based Corporate Governance* (2019), III.3 Lack of Default Rules, page 19

**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

**Topics.** corporate-governance, dao

**Keywords.** fiduciary-duties, default-rules, dao, agency-problem

**Related claims.**

- restates: https://wulfkaal.github.io/claims/3373393-035

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