{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/state-law",
 "identifier": "kaal:entity:state-law",
 "name": "State law",
 "termCode": "state-law",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
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 "sha256": "fdd3ff9a42d412106ecd94edd1af0dbb8c9f813b611a71188f02532638745528",
 "additionalProperty": [
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   "name": "status",
   "value": "derived"
  },
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   "@type": "PropertyValue",
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   "value": 3
  },
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  },
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   "value": [
    "2019",
    "2019"
   ]
  },
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  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3411110-023",
   "identifier": "kaal:claim:3411110-023",
   "text": "Digital securities are not recognized under any state's current commercial law, which matters because that recognition governs margining and the pledging of securities as collateral.",
   "abstract": "The lack of recognition of \"digital\" securities under any state's current commercial law,51 which is relevant for margin / pledging securities as collateral",
   "citation": "Wulf A. Kaal, Samuel Evans, Blockchain-Based Securities Offerings (2019). SSRN: https://ssrn.com/abstract=3411110",
   "datePublished": "2019",
   "claim_type": "failure",
   "confidence": "asserted",
   "is_failure_mode": true,
   "scope_conditions": [
    "state commercial law as codified in the UCC"
   ],
   "source_pdf_sha256": "c7626eeb7642045b79f8745df1f7232a8fe8bc44a1f7e87b592850e35b392b50",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3411110-030",
   "identifier": "kaal:claim:3411110-030",
   "text": "Delaware's 2017 amendment to the Delaware General Corporation Law recognizing distributed electronic networks or databases as a valid means of creating and maintaining corporate records, including the stock ledger, is the leading state law accommodation of blockchain.",
   "abstract": "Most notably, Delaware amended the Delaware General Corporate Law (DGCL) in 2017 to use \"distributed electronic networks or databases\" to create and maintain corporate records.",
   "citation": "Wulf A. Kaal, Samuel Evans, Blockchain-Based Securities Offerings (2019). SSRN: https://ssrn.com/abstract=3411110",
   "datePublished": "2019",
   "claim_type": "empirical",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "Delaware corporate law after the 2017 DGCL amendment",
    "records must be convertible into legible paper form"
   ],
   "source_pdf_sha256": "c7626eeb7642045b79f8745df1f7232a8fe8bc44a1f7e87b592850e35b392b50",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3411110-031",
   "identifier": "kaal:claim:3411110-031",
   "text": "Vermont's prudent approach is well founded on its own analysis: the state concluded that at present the costs and challenges of using blockchain for public recordkeeping outweigh the identifiable benefits, while the first mover advantage remains difficult to quantify.",
   "abstract": "at present, the costs and challenges associated with the use of blockchain technology for Vermont's public recordkeeping outweigh the identifiable benefits.",
   "citation": "Wulf A. Kaal, Samuel Evans, Blockchain-Based Securities Offerings (2019). SSRN: https://ssrn.com/abstract=3411110",
   "datePublished": "2019",
   "claim_type": "empirical",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "Vermont public recordkeeping",
    "state report Blockchain Technology: Opportunities and Risk"
   ],
   "source_pdf_sha256": "c7626eeb7642045b79f8745df1f7232a8fe8bc44a1f7e87b592850e35b392b50",
   "status": "current"
  }
 ],
 "description": "3 claims in the published works of Wulf A. Kaal carry the concept tag 'state-law'. Derived node: a roster, not an adjudicated definition."
}