# Business model

`kaal:entity:business-model`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `business-model`. 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

2 claims across 2 works, 2018 to 2018.

**2018**

- [3117224-009](https://wulfkaal.github.io/claims/3117224-009) [mechanism/argued] *(failure mode)* -- Because crypto platforms have no product and no revenue to offset costs, the funds they raise must typically last for the entire lifecycle of the platform, forcing them to set aside a large number of tokens for future funding needs.
  > because they have no product and no revenue to offset costs, crypto platforms' revenue raised is typically required to last for the lifecycle of the platform, requiring crypto platforms to set aside a large number of tokens for future funding needs.
  Wulf A. Kaal, Initial Coin Offerings The Top 25 Jurisdictions and Their Comparative Regulatory Responses (2018). SSRN: https://ssrn.com/abstract=3117224
- [3227933-006](https://wulfkaal.github.io/claims/3227933-006) [mechanism/argued] -- A platform creates value not by producing goods itself but by facilitating exchanges between two distinct but interdependent groups, and it then captures profit for its owner-shareholders from the interactions it mediates.
  > the platform creates value by facilitating exchanges between two different but interdependent groups
  Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Why 'Blockchain' Will Disrupt Corporate Organizations (2018). SSRN: https://ssrn.com/abstract=3227933

## 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/business-model.md | sha256sum

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