# Per transaction fees `kaal:entity:per-transaction-fees` **Status.** derived This node is assembled mechanically from the 7 claims that carry the concept tag `per-transaction-fees`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself. ## Every claim under this term 7 claims across 3 works, 2017 to 2017. **2017** - [2959730-029](https://wulfkaal.github.io/claims/2959730-029) [mechanism/argued] -- 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. > 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. Wulf A. Kaal, Blockchain Applications and Fee Structure Developments in Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2959730 - [2959730-030](https://wulfkaal.github.io/claims/2959730-030) [failure/argued] *(failure mode)* -- 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. > 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. Wulf A. Kaal, Blockchain Applications and Fee Structure Developments in Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2959730 - [2959730-032](https://wulfkaal.github.io/claims/2959730-032) [design/argued] -- 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. > 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 Wulf A. Kaal, Blockchain Applications and Fee Structure Developments in Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2959730 - [2998033-032](https://wulfkaal.github.io/claims/2998033-032) [mechanism/argued] -- Blockchain enables managers to charge per transaction fees, and that capability undermines the existing two and twenty fee model. > Blockchain technology enables managers to charge per- transaction fees which undermines the existing 2/20 fee model. Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033 - [2998033-033](https://wulfkaal.github.io/claims/2998033-033) [mechanism/argued] -- 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. > 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. Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033 - [2998033-034](https://wulfkaal.github.io/claims/2998033-034) [design/argued] -- 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. > 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. Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033 - [2998097-040](https://wulfkaal.github.io/claims/2998097-040) [mechanism/argued] *(failure mode)* -- 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. > Blockchain technology enables managers to charge per- transaction fees which undermines the existing 2/20 fee model. Wulf A. Kaal, Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016 (2017). SSRN: https://ssrn.com/abstract=2998097 ## Verify Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust. curl -s https://wulfkaal.github.io/entities/per-transaction-fees.md | sha256sum **Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.