kaal:claim:3409548-014

The 2018 ICO boom exposed a core limitation of blockchain technology: ICOs sold investors decentralized infrastructure products on the assumption that a baseline infrastructure already existed, and that assumption proved false.

The limitations of blockchain technology became most apparent in the aftermath of the ICO boom of 2018. ICOs promised investors core decentralized infrastructure products that assumed a baseline infrastructure existed. This turned out to be false

Kaal, Financial Technology and Hedge Funds (2019), II.3 Blockchain Technology, p. 15
https://ssrn.com/abstract=3409548 · source PDF

Kaal, Financial Technology and Hedge Funds (2019). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3409548

• ICO market of 2018
• projects presupposing mature base layer infrastructure

failuresupport: arguedfailure: Missing baseline infrastructure behind ICO promisesfamily: cold-start-and-bootstrappingsecurities-lawblockchaineconomics

• extended_by kaal:claim:3808873-025 Decentralized legal infrastructure solutions were almost entirely missing in the early 2020s despite strong de...
• extends kaal:claim:3406323-006 During the ICO boom years the venture capital market in the decentralized technology sector ground to a halt, ...
• extended_by kaal:claim:3808859-040 Without basic decentralized infrastructure products in place, on-chain governance of blockchains is not possib...

The quote above is an exact substring of the source PDF, whose sha256 is 74227ab2656b06bfe4a29c942fc2ba26df9f476917e0a9f85ec038b8c3402c40. Extraction method: pdf-text-layer.
Attestation record: colloquium/attestations/4c751466580db250...json
Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/3409548-014.md | sha256sum