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  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
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  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2959730-029",
   "identifier": "kaal:claim:2959730-029",
   "text": "Blockchain technology enables managers to charge per transaction fees, which undermines the existing 2/20 fee model, because it facilitates seamless and efficient calculation of management fees per transaction.",
   "abstract": "Blockchain technology enables managers to charge per- transaction fees which undermines the existing 2/20 fee model. Blockchain technology facilitates a seamless and efficient calculation of management fees per transaction.",
   "citation": "Wulf A. Kaal, Blockchain Applications and Fee Structure Developments in Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2959730",
   "datePublished": "2017",
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   "confidence": "argued",
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    "managers operating fee calculation and settlement on a blockchain"
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   "identifier": "kaal:claim:2959730-030",
   "text": "Traditional per transaction fee models failed because settlement and calculation created a prohibitive amount of work that made such operations very difficult to execute; blockchain technology overcomes all of these restrictions.",
   "abstract": "In contrast to the traditional settlement and calculation of fees in a per-transaction model that created a prohibitive amount of work making such operations very difficult to execute, blockchain technology overcomes all of these restrictions.",
   "citation": "Wulf A. Kaal, Blockchain Applications and Fee Structure Developments in Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2959730",
   "datePublished": "2017",
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   "text": "Making the blockchain enabled per transaction fee publicly available lets a private fund adviser set the applicable fee against a competitive market, so that investors in transaction heavy strategies agree upfront to higher fees.",
   "abstract": "It also can be publicly available which allows the private fund adviser to determine the applicable fee in a competitive market.65 Accordingly, clients who invest in a more transaction-prone strategy will be able to agree upfront to higher fees",
   "citation": "Wulf A. Kaal, Blockchain Applications and Fee Structure Developments in Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2959730",
   "datePublished": "2017",
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    "per transaction fee is published or agreed with clients upfront",
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2998033-032",
   "identifier": "kaal:claim:2998033-032",
   "text": "Blockchain enables managers to charge per transaction fees, and that capability undermines the existing two and twenty fee model.",
   "abstract": "Blockchain technology enables managers to charge per- transaction fees which undermines the existing 2/20 fee model.",
   "citation": "Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033",
   "datePublished": "2017",
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2998033-033",
   "identifier": "kaal:claim:2998033-033",
   "text": "Per transaction fee models were previously impractical because settlement and calculation created a prohibitive amount of manual work; blockchain removes that barrier by automatically allocating the correct fee to the correct executed trade and client account without manual reconciliation.",
   "abstract": "It enables the fully automated allocation of the appropriate fee to the correct executed trade and associated client account without any manual reconciliation or settlement.",
   "citation": "Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033",
   "datePublished": "2017",
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   "identifier": "kaal:claim:2998033-034",
   "text": "Blockchain enabled per transaction fees align fees with strategy turnover: clients in transaction intensive strategies agree upfront to higher fees while clients in less transaction rich strategies pay lower overall fees.",
   "abstract": "Accordingly, clients who invest in a more transaction-prone strategy will be able to agree upfront to higher fees whereas clients who invest in a less transaction-rich strategy will pay overall lower fees.",
   "citation": "Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033",
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2998097-040",
   "identifier": "kaal:claim:2998097-040",
   "text": "Blockchain technology enables managers to charge per-transaction fees, which undermines the existing 2 and 20 fee model, because it allows fully automated allocation of the correct fee to each executed trade without manual reconciliation or settlement.",
   "abstract": "Blockchain technology enables managers to charge per- transaction fees which undermines the existing 2/20 fee model.",
   "citation": "Wulf A. Kaal, Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016 (2017). SSRN: https://ssrn.com/abstract=2998097",
   "datePublished": "2017",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "blockchain enabled private investment funds"
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 "description": "7 claims in the published works of Wulf A. Kaal carry the concept tag 'per-transaction-fees'. Derived node: a roster, not an adjudicated definition."
}