# kaal:claim:3411110-020

**Claim.** Blockchain based offerings introduce technology risks from code design and functioning and from third party intrusions that are generally absent in traditional offerings, and these risks cannot really be quantified.

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

**Holds when.**

- blockchain based offerings compared with traditional offerings

**Source quote.**

> Technology-based risks include risks from the design and functioning of code, and from third-party intrusions. Such risks are generally not present in a traditional offering.

**From.** Wulf A. Kaal, Samuel Evans, *Blockchain-Based Securities Offerings* (2019), IV.2 Technology Risk, page 20

**Cite as.** Wulf A. Kaal, Samuel Evans, Blockchain-Based Securities Offerings (2019). SSRN: https://ssrn.com/abstract=3411110

**Verify.** sha256 of source PDF `c7626eeb7642045b79f8745df1f7232a8fe8bc44a1f7e87b592850e35b392b50` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Evans%20-%202019%20-%20Blockchain-Based%20Securities%20Offerings.pdf

**Failure mode.** unquantifiable technology risk  (family: smart-contract-bug-and-exploit)

**Topics.** risk-and-incentives, consensus-and-security

**Keywords.** technology-risk, code-risk, cybersecurity, unquantifiable-risk

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