# kaal:claim:3782201-008

**Claim.** Blockchain based guarantees remove agency costs because principals become less essential for monitoring agents, which addresses the inherent agency problems in modern finance and corporate governance.

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

**Holds when.**

- where contracts execute only when all parameters are fulfilled and verified by a majority of miners or nodes

**Source quote.**

> Blockchain-based guarantees remove agency costs because principals are less essen- tial for monitoring agents, which addresses the inherent agency problems in modern finance and corporate governance.

**From.** Craig Calcaterra, Wulf A. Kaal, *Future of Decentralization* (2021), Decentralized Commerce, page 10

**Cite as.** Craig Calcaterra, Wulf A. Kaal, Future of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782201

**Verify.** sha256 of source PDF `bedf7bcfbb7a9b0112b5848cb0d941b1d41f330dafeee0143a30ff5e8aa53700` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Calcaterra%20and%20Kaal%20-%202021%20-%20Future%20of%20Decentralization.pdf

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

**Keywords.** agency-costs, corporate-governance, smart-contracts, blockchain

**Related claims.**

- restated_by: https://wulfkaal.github.io/claims/3808867-035
- restates: https://wulfkaal.github.io/claims/3373393-001
- extends: https://wulfkaal.github.io/claims/3373393-002
- restates: https://wulfkaal.github.io/claims/3373393-024

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