# kaal:claim:4685567-034

**Claim.** Greenwashing is curtailed in the impact certificate marketplace because any market participant can instantaneously invalidate nominal but not substantive impact stories published by certificate purchasers and by listed projects.

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

**Holds when.**

- blockchain storage of impact certificate data
- funding tied to trackable progress

**Source quote.**

> Through this transparency any form of nominal but not substantive impact stories published by impact certificate purchasers and impact certificate listing projects can be invalidated instantaneously by any market participant

**From.** Wulf A. Kaal, *Impact Investing Innovation - From Impact 1.0 to 3.0* (2024), Scaling Impact 3.0, page 52

**Cite as.** Wulf A. Kaal, Impact Investing Innovation - From Impact 1.0 to 3.0 (2024). SSRN: https://ssrn.com/abstract=4685567

**Verify.** sha256 of source PDF `87fb1be89d2661967ed2b0b673fe26448ded3bc3119b122177a4fc13ae5c085c` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202024%20-%20Impact%20Investing%20Innovation%20-%20From%20Impact%201.0%20to%203.0.pdf

**Topics.** compliance, disclosure

**Keywords.** greenwashing, public-auditability, transparency, regulators, impact-certificates

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.