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 "@id": "https://wulfkaal.github.io/entities/public-blockchain",
 "identifier": "kaal:entity:public-blockchain",
 "name": "Public blockchain",
 "termCode": "public-blockchain",
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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/3002908-005",
   "identifier": "kaal:claim:3002908-005",
   "text": "Jurisdiction over the public blockchain does not exist within the present doctrinal infrastructure for jurisdiction, and in practice the blockchain cannot be regulated or governed because it is decentralized and autonomous.",
   "abstract": "More specifically, jurisdiction over the public blockchain does not exist within the present doctrinal infrastructure for jurisdiction. In practice, the blockchain itself cannot be regulated or governed because it is decentralized and autonomous.",
   "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": [
    "applies to public, permissionless blockchains rather than private or consortium ledgers with an identifiable operator"
   ],
   "source_pdf_sha256": "06a7b61e75f905ee07e422e875d83a65c5033a248a6e05a213523b034e5db534",
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  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3373393-036",
   "identifier": "kaal:claim:3373393-036",
   "text": "The core issues that afflict centralized governance solutions, including information asymmetries, censorship, opportunism of agents, breaches of fiduciary duties, and fraud, can only be truly removed if and when a truly decentralized public blockchain emerges that is scalable and fully secure.",
   "abstract": "and fraud or third-party interference, can only be truly removed to fully reform the agency relationship if and when a truly decentralized public blockchain emerges that is scalable and fully secure.",
   "citation": "Wulf A. Kaal, Blockchain Solutions for Agency Problems in Corporate Governance (2019). SSRN: https://ssrn.com/abstract=3373393",
   "datePublished": "2019",
   "claim_type": "condition",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "decentralized rather than centralized blockchain implementations"
   ],
   "source_pdf_sha256": "4d1424b9ba9aff8a61bc7a0dddd02cded93785e5843685dde76c07dcdb23961e",
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  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3396522-017",
   "identifier": "kaal:claim:3396522-017",
   "text": "Conducting commerce on public blockchains counteracts corruption because every transaction becomes publicly visible and traceable to both consumers and the government, removing the untraceability that corrupt dealing requires.",
   "abstract": "The transparency and traceability of public blockchain transactions in business and commerce counteracts corruption. Using public blockchains in commerce makes every and all transactions publicly visible and traceable for consumers and the government alike.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019). SSRN: https://ssrn.com/abstract=3396522",
   "datePublished": "2019",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "requires use of public rather than permissioned blockchains"
   ],
   "source_pdf_sha256": "ef5031b16aa53476ed618f0bdf92601cd4affb893692c701134bd9cba3ea8acf",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3396522-032",
   "identifier": "kaal:claim:3396522-032",
   "text": "The low transaction throughput of public blockchains is a core limitation holding back more advanced distributed applications and, with them, decentralized commerce.",
   "abstract": "The low transaction throughputs of public blockchains158 is a core limitation that holds back more advanced DApps.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019). SSRN: https://ssrn.com/abstract=3396522",
   "datePublished": "2019",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "as of 2019 throughput levels"
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  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3396522-033",
   "identifier": "kaal:claim:3396522-033",
   "text": "Decentralization technology is unlikely to proliferate without a core use case beyond store of value; banking, money transmission, and triple entry accounting are natural use cases but fall short of being universal use cases for public blockchains.",
   "abstract": "Moreover, without a core use case, other than the store of value, decentralization technology is less likely to proliferate.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019). SSRN: https://ssrn.com/abstract=3396522",
   "datePublished": "2019",
   "claim_type": "condition",
   "confidence": "argued",
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3709041-025",
   "identifier": "kaal:claim:3709041-025",
   "text": "Blockchain voting solutions require political will as well as technical capability, and incumbent governments may refuse to surrender control over the voting process, preferring private blockchains that preserve their control.",
   "abstract": "Yet, governments in the existing representative democracies may not wish to surrender control over the voting process and may prefer to use private blockchains to facilitate voting outcomes.",
   "citation": "Kaal, Blockchain Technology for Good (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3709041",
   "datePublished": "2020",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "applies to adoption of public blockchain voting by existing representative democracies"
   ],
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3808859-039",
   "identifier": "kaal:claim:3808859-039",
   "text": "A truly decentralized public blockchain must satisfy three simultaneous requirements: no points of centralization and corruption, full security at the level of proof of work, and transaction throughput above one hundred thousand transactions per second.",
   "abstract": "That is, a public blockchain that is not subject to points of centralization and corruption, that is fully secure at the level of proof of work security with a transaction throughput of over one hundred thousand transactions per seconds.",
   "citation": "Wulf A. Kaal, Decentralization – Why We Need Technology Infrastructure Upgrades (2021). SSRN: https://ssrn.com/abstract=3808859",
   "datePublished": "2021",
   "claim_type": "design",
   "confidence": "asserted",
   "is_failure_mode": false,
   "scope_conditions": [
    "stated as the requirement for technological decentralization via blockchain"
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   "source_pdf_sha256": "304ad25d43b5ecea3158e3a2ca04e6e1e3bd2958e2134e2dcefbfedf3b6f3ab7",
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3808873-025",
   "identifier": "kaal:claim:3808873-025",
   "text": "Decentralized legal infrastructure solutions were almost entirely missing in the early 2020s despite strong demand, because other prerequisite decentralized infrastructure products, notably a functional public blockchain, were still missing.",
   "abstract": "Yet, other important decentralized infrastructure products, such as a functional public blockchain were still missing which undermined decentralized infrastructure solutions.",
   "citation": "Wulf A. Kaal, Decentralization Neutralizers (2021). SSRN: https://ssrn.com/abstract=3808873",
   "datePublished": "2021",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "early 2020s decentralized legal and arbitration startups using ERC-20 tokens"
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 "description": "8 claims in the published works of Wulf A. Kaal carry the concept tag 'public-blockchain'. Derived node: a roster, not an adjudicated definition."
}