{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/transferability",
 "identifier": "kaal:entity:transferability",
 "name": "Transferability",
 "termCode": "transferability",
 "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",
 "canonicalForm": "https://wulfkaal.github.io/entities/transferability.md",
 "sha256": "86b7c30314761de5796958930528410042ece4a02da63b88b2503dac842a025f",
 "additionalProperty": [
  {
   "@type": "PropertyValue",
   "name": "status",
   "value": "derived"
  },
  {
   "@type": "PropertyValue",
   "name": "claim_count",
   "value": 3
  },
  {
   "@type": "PropertyValue",
   "name": "work_count",
   "value": 3
  },
  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2018",
    "2025"
   ]
  },
  {
   "@type": "PropertyValue",
   "name": "non_current_claims",
   "value": 0
  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3227933-031",
   "identifier": "kaal:claim:3227933-031",
   "text": "The DAO raised more than 150 million dollars from approximately 10,000 investors through a crowdfunding campaign in May 2016, with DAO Tokens designed to be fully transferable and tradable on peer-to-peer exchanges like shares in a listed corporation.",
   "abstract": "The DAO raised more than $150 million from approximately 10,000 \"investors.\" Like shares in a traditional listed corporation, DAO Tokens were designed to be fully transferable and tradable on \"peer-to-peer\" exchanges.",
   "citation": "Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Why 'Blockchain' Will Disrupt Corporate Organizations (2018). SSRN: https://ssrn.com/abstract=3227933",
   "datePublished": "2018",
   "claim_type": "empirical",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "the DAO token sale, May 2016"
   ],
   "source_pdf_sha256": "a9e9660c4dc25a2202f1da4e762f5885256e05f68c53ca51942f5833a7a4c108",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3405401-022",
   "identifier": "kaal:claim:3405401-022",
   "text": "The transferability of the stores of value entailed in cryptocurrencies creates core points of attack and undermines the very nature of decentralization.",
   "abstract": "The transferability of stores of value entailed in cryptocurrencies creates core points of attack and undermines the very nature of decentralization.",
   "citation": "Wulf A. Kaal, Decentralized Commerce – A Primer on Why Decentralized Reputation Verification Systems Are Needed (2019). SSRN: https://ssrn.com/abstract=3405401",
   "datePublished": "2019",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "cryptocurrencies and other transferable stores of value"
   ],
   "source_pdf_sha256": "bc2d6f0ddc0852fb4085c4543c7c1dec19aaf8745eb67e3acc637e552bd7fb7d",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/5454054-026",
   "identifier": "kaal:claim:5454054-026",
   "text": "Any drift toward transferability, voucher redemption at par, yield, or marketplace functionality would push LER into MiCA compliance obligations and, equivalently, into the UK EMR and PSR regimes and U.S. securities, money transmission, and market-structure perimeters.",
   "abstract": "Any perceived gravitation toward transferability, voucher par redemption, yield, or marketplace functionality may push LER into MiCA compliance requirements.",
   "citation": "Wulf A. Kaal, Liquid Equity Rewards (2025). SSRN: https://ssrn.com/abstract=5454054",
   "datePublished": "2025",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "EU, UK, and U.S. jurisdictions"
   ],
   "source_pdf_sha256": "9f53a865e6f0e5424640779df8f9b50923cd7d05649301dd4cc727144749b6e6",
   "status": "current"
  }
 ],
 "description": "3 claims in the published works of Wulf A. Kaal carry the concept tag 'transferability'. Derived node: a roster, not an adjudicated definition."
}