# Adoption timeline

`kaal:entity:adoption-timeline`

**Status.** derived

This node is assembled mechanically from the 4 claims that carry the concept tag `adoption-timeline`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

4 claims across 4 works, 2017 to 2024.

**2017**

- [2998033-036](https://wulfkaal.github.io/claims/2998033-036) [empirical/evidenced] -- Private fund adoption of blockchain began in 2012, coinciding with the broader public debate over blockchain solutions, and took the form of managers setting up separate new fund entities that used the technology.
  > In 2012, coinciding with the more public debate of blockchain based solutions, private investment fund managers started to get involved in the technology by setting up separate and new fund entities that utilized the technology in various forms.
  Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033

**2019**

- [3409548-011](https://wulfkaal.github.io/claims/3409548-011) [empirical/asserted] -- Blockchain adoption by private investment funds followed a staged path: minimal use from 2000 to 2012, then experimentation through separate new fund entities beginning in 2012, and from 2015 the creation of blockchain substructures inside existing funds.
  > They began to experiment with the technology by setting up separate and new fund entities that utilized the technology in various forms. In 2015, however, existing funds also started to create substructures that utilized blockchain technology.
  Kaal, Financial Technology and Hedge Funds (2019). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3409548
- [3411110-037](https://wulfkaal.github.io/claims/3411110-037) [predictive/argued] -- Development of blockchain based processes will take several years if not decades, so the most likely outcome is that legacy and blockchain based issuance, trading, and settlement systems coexist side by side for the foreseeable future.
  > will take several years if not decades, and so the most likely circumstance is that legacy and blockchain-based securities issuance, trading, settlement, and related systems and processes will have to co-exist side-by-side for the foreseeable future.
  Wulf A. Kaal, Samuel Evans, Blockchain-Based Securities Offerings (2019). SSRN: https://ssrn.com/abstract=3411110

**2024**

- [4685567-027](https://wulfkaal.github.io/claims/4685567-027) [predictive/speculative] -- Because Impact 3.0 growth depends on donor realization, willingness to run parallel tracks, standardization, critical mass of listings, funding sources and credential tracking, only a smaller subset of the philanthropy market will be attracted to impact certificate markets, and full establishment may take five to ten years.
  > Given these dependencies, a smaller subset of the philanthropy market will be attracted to impact certificate markets. It may take five to ten years for the impact certificate marketplace to fully establish itself and scale in impact donor circles.
  Wulf A. Kaal, Impact Investing Innovation - From Impact 1.0 to 3.0 (2024). SSRN: https://ssrn.com/abstract=4685567

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/adoption-timeline.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.