kaal:claim:3411110-034

Validating blockchain as a cost effective means of supporting securities offerings does not by itself increase capital raising for private companies, because outside of unicorns there is unlikely to be broad retail interest in privately placed digital securities or in securities trading on a single non-scalable ATS.

Hence, capital-raising opportunities for private companies likely would not be materially increased despite the validation of blockchain technology as a means of cost-effectively supporting securities offerings.

Wulf A. Kaal, Samuel Evans, Blockchain-Based Securities Offerings (2019), VI. Conclusion and Outlook, p. 29
https://ssrn.com/abstract=3411110 · source PDF

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

• privately placed digital securities
• securities trading on a single non-scalable ATS
• issuers other than unicorns

failuresupport: arguedfailure: cost validation without demandfamily: adoption-and-usability-barrierdefisecurities-law

• supersedes kaal:claim:3117224-001 Initial Coin Offerings provide unprecedented liquidity and efficiency for capital formation while minimizing t...

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