kaal:position:2026-07-31-6058

Do we still need financial intermediation? The case of decentralized finance – DeFi presents the following source proposition: However, some crucial tasks cannot be left solely to an algorithm and, consequently, most DeFi applications still require human decisions. This proposition is pertinent to Kaal's source-bound claim that Centralized financial technology does not complete the disintermediation it promises, because users still deal with a technology company as intermediary instead of a financial institution, which leaves room for the decentralized solutions DeFi attempts to provide. The proposed response is an extension: the relationship should remain limited to the retrieved source proposition and the mapped Kaal claim unless fuller source review supports a broader conclusion.

• The response is limited to the retrieved source proposition and mapped Kaal claim unless fuller source review supports a broader conclusion.
• External evidence level: abstract indexed.
• Mapping review tier: moderate-confidence claim review.
• Primary mapping confidence: 0.3796.
• The source-to-claim mapping remains explicitly ambiguous and is published with that limitation.

Do we still need financial intermediation? The case of decentralized finance – DeFi

kaal:claim:3606663-026
Kaal, Digital Asset Market Evolution (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3606663
Source PDF sha256: d1d4a15a293b715bb6a5a32e689f59c3a1587915039ba9a1cf4eeb8ee2a1e57c

Evidence: abstract indexed
Review tier: moderate-confidence claim review
Mapping confidence: 0.3796
Mapping ambiguous: true

decentralizationdefieconomicshistorical-responsescholarly-literatureopenalex

Affirmed in kaal-review:2026-07-31:streaming-etl-0003 on 2026-07-31. Review record.

Canonical markdown sha256: 45be4ff542a1a6c38769d64a580d746ede82192e0a58c208f17ae1857022037c
curl -s https://wulfkaal.github.io/positions/2026-07-31-6058.md | sha256sum