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 "identifier": "kaal:entity:daos",
 "name": "Daos",
 "termCode": "daos",
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 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3002908-011",
   "identifier": "kaal:claim:3002908-011",
   "text": "Despite early cautioning and a call for action from its own commissioners, the SEC has not addressed core issues pertaining to the recognition of blockchain technology applications in finance.",
   "abstract": "Despite this early cautioning and call for action, the SEC has not yet addressed core issues pertaining to the recognition of blockchain technology applications in finance.",
   "citation": "Wulf A. Kaal, Marco Dell'Erba, Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and (2017). SSRN: https://ssrn.com/abstract=3002908",
   "datePublished": "2017",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "as of publication in 2017"
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   "status": "current"
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  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3227967-023",
   "identifier": "kaal:claim:3227967-023",
   "text": "A decentralized autonomous organization is merely computer code with no directors, managers or employees, its governance structure built with software, code and smart contracts running on a public decentralized blockchain platform.",
   "abstract": "DAOs are \"merely\" computer code. They don't have any directors, managers or employees. The governance structure is built with and on software, code and smart contracts that ran on a public decentralized blockchain platform (in most cases Ethereum).",
   "citation": "Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Legal Education in a Digital Age Why 'Coding for Lawyers' Matters (2018). SSRN: https://ssrn.com/abstract=3227967",
   "datePublished": "2018",
   "claim_type": "definitional",
   "confidence": "asserted",
   "is_failure_mode": false,
   "scope_conditions": [
    "DAOs built on public platforms, in most cases Ethereum"
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   "status": "current"
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3227967-024",
   "identifier": "kaal:claim:3227967-024",
   "text": "As software code automates procedures and tasks, the focus of knowledge work shifts from the routine application of procedures to designing the systems and standardized functions that machines then perform.",
   "abstract": "DOAs fit in the flatter, decentralized and automated world. With software code automating procedures and tasks, the focus of \"knowledge work\" is shifting from the routine \"application of procedures\" to designing the systems and standardized functions that are then performed by machines.",
   "citation": "Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Legal Education in a Digital Age Why 'Coding for Lawyers' Matters (2018). SSRN: https://ssrn.com/abstract=3227967",
   "datePublished": "2018",
   "claim_type": "mechanism",
   "confidence": "argued",
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   "scope_conditions": [
    "a flatter, decentralized and automated economy"
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  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3227967-031",
   "identifier": "kaal:claim:3227967-031",
   "text": "DAOs will eventually overtake any organization that lacks their incentives and efficiencies, and because DAOs are cheap and straightforward to clone this will potentially lead to more competition.",
   "abstract": "we also concluded (as we did in class) that DAOs will eventually overtake any organization which lacks these incentives and efficiencies. Moreover, DAOs are cheap and straightforward to \"clone,\" which will potentially lead to more competition.",
   "citation": "Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Legal Education in a Digital Age Why 'Coding for Lawyers' Matters (2018). SSRN: https://ssrn.com/abstract=3227967",
   "datePublished": "2018",
   "claim_type": "predictive",
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   "scope_conditions": [
    "comparison with organizations lacking DAO incentives and efficiencies"
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   "@id": "https://wulfkaal.github.io/claims/3227967-032",
   "identifier": "kaal:claim:3227967-032",
   "text": "Existing blockchains and DAOs still lack genuine decentralization, and there are currently no true DAOs: Bitcoin's proof of work protocol has produced mining pools because of economies of scale and unbalanced reward structures.",
   "abstract": "In our discussion, the following weaknesses were highlighted. There is still a lack of decentralization (there are currently no \"true\" DAOs). For instance, Bitcoin's proof of work protocol has led to \"mining pools\" because of economies of scale and unbalanced reward structures.",
   "citation": "Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Legal Education in a Digital Age Why 'Coding for Lawyers' Matters (2018). SSRN: https://ssrn.com/abstract=3227967",
   "datePublished": "2018",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "proof of work blockchains as of 2018"
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3227967-033",
   "identifier": "kaal:claim:3227967-033",
   "text": "Anonymity in blockchain organizations makes them prone to Sybil attacks and 51 percent attacks, and anonymity combined with autonomy has led to many hacks.",
   "abstract": "Also, the anonymity in blockchain organizations means that they are prone to \"Sybil attacks\" and \"51% attacks.\" We also discussed the many examples in which the anonymity (and autonomy) have led to hacks.",
   "citation": "Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Legal Education in a Digital Age Why 'Coding for Lawyers' Matters (2018). SSRN: https://ssrn.com/abstract=3227967",
   "datePublished": "2018",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "anonymous and autonomous blockchain organizations"
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3227967-034",
   "identifier": "kaal:claim:3227967-034",
   "text": "In a truly decentralized system any mistake, such as a stolen or lost password or a programming bug, is permanent and irrevocable.",
   "abstract": "Remember that in a truly decentralized system, any mistakes (stolen/lost passwords, programming bugs, etc.) are permanent and irrevocable.",
   "citation": "Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Legal Education in a Digital Age Why 'Coding for Lawyers' Matters (2018). SSRN: https://ssrn.com/abstract=3227967",
   "datePublished": "2018",
   "claim_type": "failure",
   "confidence": "asserted",
   "is_failure_mode": true,
   "scope_conditions": [
    "truly decentralized systems with no reversal authority"
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   "source_pdf_sha256": "f6e13b956f864ab32ec3305d095a35a127770327d75b3688f785cefc437d369f",
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3249860-005",
   "identifier": "kaal:claim:3249860-005",
   "text": "DAOs can replace the coordination and monitoring functions supplied by the firm, because they can measure each member's contribution to the finished work product more efficiently and allocate rewards accordingly.",
   "abstract": "Arguably, DAOs can replace the otherwise needed functions that are supplied by the firm that acts as the coordinator and monitor of a team because DAOs can more efficiently measure the contribution of each DAO member to the finished work product and allocate respective rewards accordingly.",
   "citation": "Wulf A. Kaal, Crypto Economics - The Top 100 Token Models Compared (2018). SSRN: https://ssrn.com/abstract=3249860",
   "datePublished": "2018",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "supported by trust enhancing technologies such as reputation verification in decentralized anonymous systems"
   ],
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3411110-027",
   "identifier": "kaal:claim:3411110-027",
   "text": "Despite an early call for regulatory leadership from Commissioner Stein in 2015, the SEC has not addressed core recognition questions for blockchain in finance, including cryptocurrencies, tokens as securities, and DAOs as investment advisers.",
   "abstract": "Despite this early cautioning and call for action, the SEC has not yet addressed core issues pertaining to the recognition of blockchain technology applications in finance.",
   "citation": "Wulf A. Kaal, Samuel Evans, Blockchain-Based Securities Offerings (2019). SSRN: https://ssrn.com/abstract=3411110",
   "datePublished": "2019",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
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    "SEC action between 2015 and the time of writing"
   ],
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3782192-036",
   "identifier": "kaal:claim:3782192-036",
   "text": "Bitcoin and Ethereum are worth hundreds of billions of dollars not because people are using them but almost entirely because of speculation on their future value, which is the expectation that people will use them to build decentralized autonomous organizations.",
   "abstract": "These networks are worth hundreds of billions of dollars, not because people are using them, but almost entirely because of speculation. People see the future value of these tools. Their future value is the dream that people will use them to build DAOs.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Introduction to Decentralization (2021). SSRN: https://ssrn.com/abstract=3782192",
   "datePublished": "2021",
   "claim_type": "empirical",
   "confidence": "asserted",
   "is_failure_mode": false,
   "scope_conditions": [
    "cryptocurrency network valuations as of the time of writing"
   ],
   "source_pdf_sha256": "e7eafd56cb8a8bd15b64cf58216bb655f939bdcc296387e362fd9191976d67ae",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3782205-001",
   "identifier": "kaal:claim:3782205-001",
   "text": "A radically decentralized economy cannot be achieved incrementally: eight institutional problems that centralized business solved centuries ago must all be solved simultaneously, and their solutions must be integrated with one another.",
   "abstract": "Before the vision of a radically decentralized economy can be achieved, engineers and architects need to solve eight big problems that business solved centuries ago. All eight problems need to be solved simultaneously, and the solutions need to be inte- grated with each other.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205",
   "datePublished": "2021",
   "claim_type": "condition",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "applies to a decentralized economy intended to replace centralized institutions"
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3782205-004",
   "identifier": "kaal:claim:3782205-004",
   "text": "A DAO will not be a genuinely profitable addition to the economy until decentralized versions of the legal system, the political system, the media, banking, and other services exist to support it.",
   "abstract": "The legal system, the political system, the media, banking, and other services are all needed before the first DAO will be a genuinely profitable addition to our economy.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205",
   "datePublished": "2021",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "profit-seeking DAOs competing in the contemporary economy"
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   "@id": "https://wulfkaal.github.io/claims/3782205-017",
   "identifier": "kaal:claim:3782205-017",
   "text": "No profit-seeking decentralized organization can succeed against centralized competitors in the contemporary marketplace until all eight institutional problems are solved at once.",
   "abstract": "Finally, no decentralized organization devoted to profit can be successful in the contemporary marketplace against centralized organizations until eight big problems are solved, all at once.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205",
   "datePublished": "2021",
   "claim_type": "failure",
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   "is_failure_mode": true,
   "scope_conditions": [
    "profit-oriented decentralized organizations in the contemporary marketplace"
   ],
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3782205-035",
   "identifier": "kaal:claim:3782205-035",
   "text": "A fully decentralized structure with proper governance could solve the abuses that pervade the gig economy.",
   "abstract": "The gig economy is rife with horror stories, but a fully decentralized structure with proper governance could solve such problems.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205",
   "datePublished": "2021",
   "claim_type": "predictive",
   "confidence": "speculative",
   "is_failure_mode": false,
   "scope_conditions": [
    "requires proper governance design"
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  },
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3782205-037",
   "identifier": "kaal:claim:3782205-037",
   "text": "DAOs derive their unity from ideals and aspirations that lie beyond their protocols, making strong unifying transcendental values the most important requirement for long-term coherence and stability.",
   "abstract": "DAOs derive unity from their ideals, their common goals and aspirations beyond the protocols. This final requirement is the most important for long-term stability, and will require eternal reevaluation. Decentralized institutions require strong unifying values to remain coherent.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205",
   "datePublished": "2021",
   "claim_type": "condition",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "long-term survival of decentralized institutions"
   ],
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   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/4900878-026",
   "identifier": "kaal:claim:4900878-026",
   "text": "Tokens solve the quantification problem in quantum economics by serving as measurable units of value and governance: token denominated voting power in a DAO makes social influence and decision making power countable, supplying the consistent set of units the framework lacked.",
   "abstract": "Tokenomics offers a practical solution through the use of tokens as quantifiable units of value and governance.",
   "citation": "Wulf A. Kaal, Quantum Economy and Tokenomics (2024). SSRN: https://ssrn.com/abstract=4900878",
   "datePublished": "2024",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "token based systems with on chain governance such as DAOs"
   ],
   "source_pdf_sha256": "75bf96d3b751b4ad0a6ca4a32591cf026094f113e3a372aa6c61790941b391f7",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/4900878-027",
   "identifier": "kaal:claim:4900878-027",
   "text": "Decentralized governance models such as DAOs answer the criticism that micro level quantum properties do not scale to the macro level, because DAOs demonstrate participatory governance structures that operate effectively in large, complex economies.",
   "abstract": "Additionally, the use of decentralized governance models in tokenomics, such as DAOs, can address the criticism that quantum properties observed at the micro level do not scale up to the macro level.",
   "citation": "Wulf A. Kaal, Quantum Economy and Tokenomics (2024). SSRN: https://ssrn.com/abstract=4900878",
   "datePublished": "2024",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "large scale decentralized economies with DAO governance"
   ],
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   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/4900878-036",
   "identifier": "kaal:claim:4900878-036",
   "text": "A reputation governance layer that awards reputation tokens for contributions and behavior fosters trust and drives positive engagement within a token community, complementing DAO based token holder voting.",
   "abstract": "the VOW ecosystem incorporates a reputation governance system, which rewards users with reputation tokens based on their contributions and behavior.",
   "citation": "Wulf A. Kaal, Quantum Economy and Tokenomics (2024). SSRN: https://ssrn.com/abstract=4900878",
   "datePublished": "2024",
   "claim_type": "design",
   "confidence": "asserted",
   "is_failure_mode": false,
   "scope_conditions": [
    "the VOW ecosystem as a case study"
   ],
   "source_pdf_sha256": "75bf96d3b751b4ad0a6ca4a32591cf026094f113e3a372aa6c61790941b391f7",
   "status": "current"
  }
 ],
 "description": "18 claims in the published works of Wulf A. Kaal carry the concept tag 'daos'. Derived node: a roster, not an adjudicated definition."
}