# kaal:claim:3808859-028

**Claim.** DeFi's distinctive disruption is that it attempts to make financial transactions permissionless, completely open to anybody, and borderless, promising reduced transaction costs, broader financial inclusion, and open access across borders.

**Type.** definitional  **Support.** asserted

**Holds when.**

- describes DeFi as an emerging movement from 2019

**Source quote.**

> The particular form of disruption in DeFi comes from its attempts to make financial transactions permissionless, completely open to anybody, and borderless.

**From.** Wulf A. Kaal, *Decentralization – Why We Need Technology Infrastructure Upgrades* (2021), V.1 From Disruptive Fintech to Decentralized Finance (DeFi), page 39

**Cite as.** Wulf A. Kaal, Decentralization – Why We Need Technology Infrastructure Upgrades (2021). SSRN: https://ssrn.com/abstract=3808859

**Verify.** sha256 of source PDF `304ad25d43b5ecea3158e3a2ca04e6e1e3bd2958e2134e2dcefbfedf3b6f3ab7` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202021%20-%20Decentralization%20%E2%80%93%20Why%20We%20Need%20Technology%20Infrastructure%20Upgrades.pdf

**Topics.** defi, blockchain

**Keywords.** defi, permissionless, financial-inclusion, blockchain

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