{
 "@context": "https://schema.org",
 "@type": "Claim",
 "@id": "https://wulfkaal.github.io/claims/3782205-018",
 "identifier": "kaal:claim:3782205-018",
 "text": "Bitcoin proved that a decentralized digital representation of value is possible, but it is not efficient enough for wide use because the rest of a decentralized economic environment does not yet exist around it.",
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0009-0008-7840-1847"
 },
 "citation": "Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205",
 "isBasedOn": {
  "@type": "ScholarlyArticle",
  "name": "Eight Institutions for the Evolution of Decentralization",
  "datePublished": "2021",
  "url": "https://ssrn.com/abstract=3782205",
  "sha256": "5ba52c63e81019b6867fb29c4a50821ff574e510d79b31b8ce9f4c726a0ebc71",
  "encoding": "https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Calcaterra%20and%20Kaal%20-%202021%20-%20Eight%20Institutions%20for%20the%20Evolution%20of%20Decentralization.pdf"
 },
 "keywords": [
  "tokenomics",
  "economics",
  "institutional-design"
 ],
 "about": [
  "bitcoin",
  "money",
  "efficiency",
  "institutional-complementarity"
 ],
 "abstract": "Bitcoin proved it was possible to create a decentralized digital representation of value. Because this proof of concept technology doesn't have the rest of a decentralized eco- nomic environment to exist in, it is not efficient enough to use widely.",
 "additionalProperty": [
  {
   "@type": "PropertyValue",
   "name": "claim_type",
   "value": "failure"
  },
  {
   "@type": "PropertyValue",
   "name": "confidence",
   "value": "argued"
  },
  {
   "@type": "PropertyValue",
   "name": "scope_conditions",
   "value": [
    "Bitcoin as a proof of concept lacking a surrounding decentralized economy"
   ]
  },
  {
   "@type": "PropertyValue",
   "name": "is_failure_mode",
   "value": true
  },
  {
   "@type": "PropertyValue",
   "name": "attestations",
   "value": "https://wulfkaal.github.io/colloquium/attestations/a93f3776e01788d1cff05f4caf07ebbd84c643b74866e0442642540be7c83c33.json"
  },
  {
   "@type": "PropertyValue",
   "name": "edges",
   "value": []
  }
 ],
 "isPartOf": {
  "@id": "https://wulfkaal.github.io/claims/index.json"
 },
 "dateModified": "2026-07-27",
 "version": "1.0",
 "sha256": "a93f3776e01788d1cff05f4caf07ebbd84c643b74866e0442642540be7c83c33",
 "canonicalForm": "https://wulfkaal.github.io/claims/3782205-018.md"
}