# kaal:claim:3227933-037

**Claim.** Because token holders are not locked into the program, issuing coins or tokens becomes a straightforward and relatively simple way for a platform to attract capital without issuing shares in the company.

**Type.** mechanism  **Support.** argued

**Source quote.**

> Because the owners of the coins/tokens aren't "locked" into the loyalty program, the issuance of coins/tokens can be a straightforward and relatively simple means to attract capital/funding for the platform (without issuing shares in the company).

**From.** Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, *Why 'Blockchain' Will Disrupt Corporate Organizations* (2018), 8. Crypto Coins and Tokens, page 18

**Cite as.** Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Why 'Blockchain' Will Disrupt Corporate Organizations (2018). SSRN: https://ssrn.com/abstract=3227933

**Verify.** sha256 of source PDF `a9e9660c4dc25a2202f1da4e762f5885256e05f68c53ca51942f5833a7a4c108` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Fenwick%20et%20al.%20-%202018%20-%20Why%20%27Blockchain%27%20Will%20Disrupt%20Corporate%20Organizations.pdf

**Topics.** tokenomics

**Keywords.** token-funding, capital-raising, equity, platforms

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