# kaal:claim:3002908-028

**Claim.** The authors undercut their own legacy systems explanation: legacy systems in the EU should theoretically create the same barriers, and there is no reason to believe US legacy systems are more of an obstacle than European ones.

**Type.** failure  **Support.** argued

**Source quote.**

> Theoretically, however, legacy systems in the EU should create the same barriers for larger private investment fund advisers. There is no reason to believe that legacy systems in the United States would constitute more of an obstacle than legacy systems in the EU.

**From.** Wulf A. Kaal, Marco Dell'Erba, *Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and* (2017), V. Data, page 31

**Cite as.** Wulf A. Kaal, Marco Dell'Erba, Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and (2017). SSRN: https://ssrn.com/abstract=3002908

**Verify.** sha256 of source PDF `06a7b61e75f905ee07e422e875d83a65c5033a248a6e05a213523b034e5db534` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Dell%27Erba%20-%202017%20-%20Blockchain%20Innovation%20in%20Private%20Investment%20Funds%20-%20A%20Comparative%20Analysis%20of%20the%20United%20States%20and.pdf

**Failure mode.** underdetermined-legacy-explanation  (family: research-design-limitation)

**Topics.** risk-and-incentives

**Keywords.** legacy-systems, explanatory-limits, comparative-analysis, barriers-to-entry

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