{
 "failure_mode": "cold-start-and-bootstrapping",
 "specific_names": [
  "Absent revenue to offset platform costs",
  "Alternative funder idiosyncrasy",
  "Chicken and egg dependency",
  "Inadequate alternative funding",
  "Legacy capital formation shortfall",
  "Missing Credential Tracking",
  "Missing Prerequisite Infrastructure",
  "Missing baseline infrastructure behind ICO promises",
  "Missing complementary institutions",
  "Missing institutional layer for decentralized business",
  "Partial institutional build-out",
  "Reputation voting bootstrap deadlock",
  "attrition of blockchain for good projects",
  "critical mass failure",
  "experience gap in immature markets",
  "governance blocked by missing infrastructure",
  "governance-from-scratch-burden",
  "hype crowds out technical learning",
  "infrastructure lag inhibits transformation",
  "insufficient-ambition",
  "missing decentralized news and history institutions",
  "missing decentralized overhead institutions",
  "missing incentive design for decentralized development",
  "missing institutional preconditions",
  "missing-core-use-case",
  "missing-killer-app",
  "missing-revenue-model",
  "missing-universal-use-case",
  "mutual-dependency-deadlock",
  "newcomer entry barrier",
  "no expertise network, no successful early stage investment",
  "no-revenue-runway",
  "parasite on a dying host",
  "single-area-development-failure",
  "stablecoin chicken and egg",
  "unqualified validator participation"
 ],
 "count": 36,
 "claims": [
  {
   "id": "kaal:claim:617681-021",
   "url": "https://wulfkaal.github.io/claims/617681-021",
   "claim": "The two sources that finance Delaware's bundled package, franchise taxes and legal fees for local counsel, might not be as lucrative for a European Member State, so the expensive package of statutes plus adjudication may have no viable funding model.",
   "specific_name": "missing-revenue-model",
   "conditions": [
    "European Member States with tax systems built around taxing operations within their borders"
   ],
   "source": "Regulatory Competition in EU Corporate Law after Inspire Art Unbundling Delaware's Product for Euro",
   "year": "2004",
   "quote": "Two of the most often mentioned sources for financing Delaware's bundled package in the United States, franchise taxes and legal fees for Delaware counsel, unfortunately might not be as lucrative for a European Member State.",
   "citation": "Christian Kirchner, Richard W. Painter, Wulf A. Kaal, Regulatory Competition in EU Corporate Law after Inspire Art Unbundling Delaware's Product for Euro (2004). SSRN: https://ssrn.com/abstract=617681"
  },
  {
   "id": "kaal:claim:3067615-017",
   "url": "https://wulfkaal.github.io/claims/3067615-017",
   "claim": "Given the advantages of ICOs, traditional regulated IPOs and venture capital funds increasingly fail to adequately capitalize crypto and legacy ventures driven by new economic paradigms.",
   "specific_name": "Legacy capital formation shortfall",
   "conditions": [
    "ventures driven by new economic paradigms, including crypto ventures"
   ],
   "source": "Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags",
   "year": "2017",
   "quote": "Given these ICO advantages, traditional regulated IPOs and venture capital funds increasingly fail to adequately capitalize crypto and legacy ventures driven by new economic paradigms.",
   "citation": "Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615"
  },
  {
   "id": "kaal:claim:3067615-022",
   "url": "https://wulfkaal.github.io/claims/3067615-022",
   "claim": "Associated with the lack of an existing product is the inability of most crypto platforms to generate revenue to offset costs the way traditional businesses do, since they typically have neither employees who create and advertise a product nor customers who generate revenue.",
   "specific_name": "Absent revenue to offset platform costs",
   "conditions": [
    "crypto platforms organized as foundations"
   ],
   "source": "Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags",
   "year": "2017",
   "quote": "Associated with the lack of an existing product is the inability of most crypto platforms to generate revenue to offset costs like traditional businesses.",
   "citation": "Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615"
  },
  {
   "id": "kaal:claim:3125822-043",
   "url": "https://wulfkaal.github.io/claims/3125822-043",
   "claim": "As the system matures the power of experienced experts far outstrips that of new experts, which creates an entry problem in a platform where adjudicating disputes requires staking reputation one does not yet have.",
   "specific_name": "newcomer entry barrier",
   "conditions": [
    "mature expertise tags",
    "systems that require staking reputation to participate"
   ],
   "source": "Blockchain Infrastructure for Measuring Domain Specific Reputation in Autonomous Decentralized and A",
   "year": "2018",
   "quote": "Secondly, as the system reaches a semblance of maturity, the power of experienced experts will far outstrip that of new experts.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Vlad Andrei, Blockchain Infrastructure for Measuring Domain Specific Reputation in Autonomous Decentralized and A (2018). SSRN: https://ssrn.com/abstract=3125822"
  },
  {
   "id": "kaal:claim:3117224-009",
   "url": "https://wulfkaal.github.io/claims/3117224-009",
   "claim": "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.",
   "specific_name": "no-revenue-runway",
   "conditions": [
    "crypto platforms without revenue-generating products"
   ],
   "source": "Initial Coin Offerings The Top 25 Jurisdictions and Their Comparative Regulatory Responses",
   "year": "2018",
   "quote": "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.",
   "citation": "Wulf A. Kaal, Initial Coin Offerings The Top 25 Jurisdictions and Their Comparative Regulatory Responses (2018). SSRN: https://ssrn.com/abstract=3117224"
  },
  {
   "id": "kaal:claim:3373393-005",
   "url": "https://wulfkaal.github.io/claims/3373393-005",
   "claim": "Blockchain use cases involve interdependent structures, so development of any one area alone cannot succeed without the simultaneous existence of multiple additional support structures.",
   "specific_name": "single-area-development-failure",
   "conditions": [
    "applies to complex, interdependent use cases such as corporate governance"
   ],
   "source": "Blockchain Solutions for Agency Problems in Corporate Governance",
   "year": "2019",
   "quote": "In other words, development of one area alone cannot be successful as the existence of multiple additional support structures are needed.",
   "citation": "Wulf A. Kaal, Blockchain Solutions for Agency Problems in Corporate Governance (2019). SSRN: https://ssrn.com/abstract=3373393"
  },
  {
   "id": "kaal:claim:3406323-020",
   "url": "https://wulfkaal.github.io/claims/3406323-020",
   "claim": "Without a core use case other than the store of value provided by Bitcoin, decentralization technology is less likely to proliferate; banking, money transmission, and triple entry accounting are natural but insufficient as universal use cases for public blockchains.",
   "specific_name": "missing-universal-use-case",
   "conditions": [
    "public blockchains as of 2019"
   ],
   "source": "Decentralization - A Primer on the New Economy",
   "year": "2019",
   "quote": "Without a core use case, other than the store of value (in Bitcoin), decentralization technology is less likely to proliferate.",
   "citation": "Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019). SSRN: https://ssrn.com/abstract=3406323"
  },
  {
   "id": "kaal:claim:3411897-025",
   "url": "https://wulfkaal.github.io/claims/3411897-025",
   "claim": "Without a core use case beyond Bitcoin's store of value function, decentralization technology is less likely to proliferate.",
   "specific_name": "missing-killer-app",
   "conditions": [
    "absent a widely adopted killer application for public blockchains"
   ],
   "source": "Decentralization - Past, Present, and Future",
   "year": "2019",
   "quote": "Without a core use case, other than the store of value (in Bitcoin), decentralization technology is less likely to proliferate.",
   "citation": "Wulf A. Kaal, Decentralization - Past, Present, and Future (2019). SSRN: https://ssrn.com/abstract=3411897"
  },
  {
   "id": "kaal:claim:3409548-014",
   "url": "https://wulfkaal.github.io/claims/3409548-014",
   "claim": "The 2018 ICO boom exposed a core limitation of blockchain technology: ICOs sold investors decentralized infrastructure products on the assumption that a baseline infrastructure already existed, and that assumption proved false.",
   "specific_name": "Missing baseline infrastructure behind ICO promises",
   "conditions": [
    "ICO market of 2018",
    "projects presupposing mature base layer infrastructure"
   ],
   "source": "Financial Technology and Hedge Funds",
   "year": "2019",
   "quote": "The limitations of blockchain technology became most apparent in the aftermath of the ICO boom of 2018. ICOs promised investors core decentralized infrastructure products that assumed a baseline infrastructure existed. This turned out to be false",
   "citation": "Kaal, Financial Technology and Hedge Funds (2019). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3409548"
  },
  {
   "id": "kaal:claim:3396522-033",
   "url": "https://wulfkaal.github.io/claims/3396522-033",
   "claim": "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.",
   "specific_name": "missing-core-use-case",
   "conditions": [],
   "source": "Stable Cryptocurrencies",
   "year": "2019",
   "quote": "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"
  },
  {
   "id": "kaal:claim:3709041-029",
   "url": "https://wulfkaal.github.io/claims/3709041-029",
   "claim": "In a proprietary dataset of thirty three blockchain for good projects, the projects proliferated between 2013 and 2017 and peaked in 2017, and many of them did not launch successfully or perished over time.",
   "specific_name": "attrition of blockchain for good projects",
   "conditions": [
    "based on the author's dataset of n=33 blockchain for good projects whose whitepapers were reviewed"
   ],
   "source": "Blockchain Technology for Good",
   "year": "2020",
   "quote": "Figure 1 shows that blockchain for good projects proliferated between 2013-17 and peaked in 2017. Many of the projects in the dataset did not launch successfully or perished over time.",
   "citation": "Kaal, Blockchain Technology for Good (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3709041"
  },
  {
   "id": "kaal:claim:3606663-016",
   "url": "https://wulfkaal.github.io/claims/3606663-016",
   "claim": "Immature markets such as the market for digital assets in 2020 often cannot attract the institutional investors and venture capitalists who have sufficient operating experience in that market, which is a self reinforcing constraint on market development.",
   "specific_name": "experience gap in immature markets",
   "conditions": [
    "immature or nascent asset markets",
    "digital asset market as of 2020"
   ],
   "source": "Digital Asset Market Evolution",
   "year": "2020",
   "quote": "Immature markets, such as the market for digital assets in 2020 often cannot attract institutional investors and venture capitalists that have sufficient operating experience in that market.",
   "citation": "Kaal, Digital Asset Market Evolution (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3606663"
  },
  {
   "id": "kaal:claim:3606663-017",
   "url": "https://wulfkaal.github.io/claims/3606663-017",
   "claim": "Early stage investing in digital assets is a relationships business, and without access to a network of core industry expertise early stage investments in the digital asset industry are rarely successful.",
   "specific_name": "no expertise network, no successful early stage investment",
   "conditions": [
    "early stage investors in digital asset startups"
   ],
   "source": "Digital Asset Market Evolution",
   "year": "2020",
   "quote": "Without access to a network of core expertise early stage investments in the digital asset industry are rarely successful.",
   "citation": "Kaal, Digital Asset Market Evolution (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3606663"
  },
  {
   "id": "kaal:claim:3606663-019",
   "url": "https://wulfkaal.github.io/claims/3606663-019",
   "claim": "Because the digital asset market has been so hype driven, technical experience has not added significantly to overall market development and maturity, leaving many top projects in 2020 still afflicted by unresolved technical issues.",
   "specific_name": "hype crowds out technical learning",
   "conditions": [
    "cryptocurrency market through the early 2020s",
    "hype driven market conditions"
   ],
   "source": "Digital Asset Market Evolution",
   "year": "2020",
   "quote": "Because the market has been so hype driven, technical experience has not added significantly to overall market development and maturity.",
   "citation": "Kaal, Digital Asset Market Evolution (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3606663"
  },
  {
   "id": "kaal:claim:3808852-019",
   "url": "https://wulfkaal.github.io/claims/3808852-019",
   "claim": "At the beginning of the 2020s no forum existed that could support truly decentralized software development with a sufficient incentive design.",
   "specific_name": "missing incentive design for decentralized development",
   "conditions": [
    "as of the beginning of the 2020s"
   ],
   "source": "Decentralization and Feedback Effects",
   "year": "2021",
   "quote": "At the beginning of the 2020s, no forum existed that could support truly decentralized software development with a sufficient incentive design.",
   "citation": "Wulf A. Kaal, Decentralization and Feedback Effects (2021). SSRN: https://ssrn.com/abstract=3808852"
  },
  {
   "id": "kaal:claim:3808873-025",
   "url": "https://wulfkaal.github.io/claims/3808873-025",
   "claim": "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.",
   "specific_name": "Missing Prerequisite Infrastructure",
   "conditions": [
    "early 2020s decentralized legal and arbitration startups using ERC-20 tokens"
   ],
   "source": "Decentralization Neutralizers",
   "year": "2021",
   "quote": "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"
  },
  {
   "id": "kaal:claim:3808859-005",
   "url": "https://wulfkaal.github.io/claims/3808859-005",
   "claim": "Technological transformation stalls until its supporting infrastructure exists: the digital transformation was inhibited until infrastructure was built, laws were updated, and new institutions were created, just as the steam and combustion engines required new streets, wiring, laws, and institutions.",
   "specific_name": "infrastructure lag inhibits transformation",
   "conditions": [
    "holds for transformational technologies that require societal coordination"
   ],
   "source": "Decentralization – Why We Need Technology Infrastructure Upgrades",
   "year": "2021",
   "quote": "digital transformation was inhibited until the needed infrastructure was built, laws were updated, and new institutions were created.",
   "citation": "Wulf A. Kaal, Decentralization – Why We Need Technology Infrastructure Upgrades (2021). SSRN: https://ssrn.com/abstract=3808859"
  },
  {
   "id": "kaal:claim:3808859-019",
   "url": "https://wulfkaal.github.io/claims/3808859-019",
   "claim": "The dominant failure of the open source model is that most projects never reach critical mass; only a small elite of projects attracts enough developers who believe in the vision, and the majority simply cannot.",
   "specific_name": "critical mass failure",
   "conditions": [],
   "source": "Decentralization – Why We Need Technology Infrastructure Upgrades",
   "year": "2021",
   "quote": "Perhaps most significantly, most open source projects cannot reach critical mass to further their development agenda. Only a small number of elite open source projects can attract developer contributions.",
   "citation": "Wulf A. Kaal, Decentralization – Why We Need Technology Infrastructure Upgrades (2021). SSRN: https://ssrn.com/abstract=3808859"
  },
  {
   "id": "kaal:claim:3808859-040",
   "url": "https://wulfkaal.github.io/claims/3808859-040",
   "claim": "Without basic decentralized infrastructure products in place, on-chain governance of blockchains is not possible or is only limitedly possible, and the blockchain ecosystem may not be able to grow without a core decentralized infrastructure such as a functioning public blockchain to build on.",
   "specific_name": "governance blocked by missing infrastructure",
   "conditions": [],
   "source": "Decentralization – Why We Need Technology Infrastructure Upgrades",
   "year": "2021",
   "quote": "Without such basic infrastructure products, on-chain governance of blockchains may not be or may only limitedly be possible.",
   "citation": "Wulf A. Kaal, Decentralization – Why We Need Technology Infrastructure Upgrades (2021). SSRN: https://ssrn.com/abstract=3808859"
  },
  {
   "id": "kaal:claim:3782216-001",
   "url": "https://wulfkaal.github.io/claims/3782216-001",
   "claim": "The decentralized economy cannot fully proliferate until it acquires the institutions ordinary commerce depends on, above all a secure and meaningful reputation system for anonymous supranational partners and an effective, dynamic governance system.",
   "specific_name": "missing institutional preconditions",
   "conditions": [
    "the decentralized economy as of the early 2020s"
   ],
   "source": "Decentralized Finance (DeFi)",
   "year": "2021",
   "quote": "the decentralized economy is missing the major institutions that our society relies on to conduct profitable business, especially a secure and meaningful system for evaluating reputation for anonymous supranational partners, and an effective and dynamic governance system",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Decentralized Finance (DeFi) (2021). SSRN: https://ssrn.com/abstract=3782216"
  },
  {
   "id": "kaal:claim:3782216-034",
   "url": "https://wulfkaal.github.io/claims/3782216-034",
   "claim": "Stablecoin collateralization and a robust decentralized economy form a chicken and egg problem: a stablecoin cannot reduce its backing until a robust decentralized economy exists, and that economy cannot be built without an efficient stablecoin.",
   "specific_name": "stablecoin chicken and egg",
   "conditions": [
    "while most cryptocurrency use is speculative hot money"
   ],
   "source": "Decentralized Finance (DeFi)",
   "year": "2021",
   "quote": "We need a robust decen- tralized economy before a stablecoin can reduce its collateralization. We need an ef- ficient and useful stablecoin before we can build a robust decentralized economy. This is another of the many chicken-and-egg problems that hamper the adoption of new systems.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Decentralized Finance (DeFi) (2021). SSRN: https://ssrn.com/abstract=3782216"
  },
  {
   "id": "kaal:claim:3782216-040",
   "url": "https://wulfkaal.github.io/claims/3782216-040",
   "claim": "The decentralized economy still lacks trustworthy open source decentralized institutions for recording and parsing history, reporting news and guiding attention, without which the average person cannot judge which networks to join or what to invest in.",
   "specific_name": "missing decentralized news and history institutions",
   "conditions": [],
   "source": "Decentralized Finance (DeFi)",
   "year": "2021",
   "quote": "We need trustworthy open source decentralized institutions for recording and parsing history, for investigating and reporting the news, for guiding our attention to the future.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Decentralized Finance (DeFi) (2021). SSRN: https://ssrn.com/abstract=3782216"
  },
  {
   "id": "kaal:claim:3782205-004",
   "url": "https://wulfkaal.github.io/claims/3782205-004",
   "claim": "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.",
   "specific_name": "Missing complementary institutions",
   "conditions": [
    "profit-seeking DAOs competing in the contemporary economy"
   ],
   "source": "Eight Institutions for the Evolution of Decentralization",
   "year": "2021",
   "quote": "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"
  },
  {
   "id": "kaal:claim:3782205-017",
   "url": "https://wulfkaal.github.io/claims/3782205-017",
   "claim": "No profit-seeking decentralized organization can succeed against centralized competitors in the contemporary marketplace until all eight institutional problems are solved at once.",
   "specific_name": "Partial institutional build-out",
   "conditions": [
    "profit-oriented decentralized organizations in the contemporary marketplace"
   ],
   "source": "Eight Institutions for the Evolution of Decentralization",
   "year": "2021",
   "quote": "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"
  },
  {
   "id": "kaal:claim:3782205-030",
   "url": "https://wulfkaal.github.io/claims/3782205-030",
   "claim": "The stablecoin cannot be efficient until a robust decentralized economy already exists, producing a chicken and egg problem in which the required institutions presuppose one another.",
   "specific_name": "Chicken and egg dependency",
   "conditions": [],
   "source": "Eight Institutions for the Evolution of Decentralization",
   "year": "2021",
   "quote": "We need a robust decentralized economy (#W, below) before the stablecoin can be efficient—another chicken and egg problem.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205"
  },
  {
   "id": "kaal:claim:3782201-034",
   "url": "https://wulfkaal.github.io/claims/3782201-034",
   "claim": "Unless the Web3 vision builds at least the features and social advantages of the current political and legal systems into its economy, the decentralized economy will merely be a parasite on the dying host of the traditional mainstream economy, and once the host dies today's social advantages will be lost.",
   "specific_name": "parasite on a dying host",
   "conditions": [
    "if the contemporary political system does not itself incorporate the new information technology advances"
   ],
   "source": "Future of Decentralization",
   "year": "2021",
   "quote": "Otherwise the decentralized economy will merely be a parasite on the dying host that is the traditional mainstream economy; in that case, once the host is dead, the social advantages we enjoy today will be lost.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Future of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782201"
  },
  {
   "id": "kaal:claim:3782201-037",
   "url": "https://wulfkaal.github.io/claims/3782201-037",
   "claim": "Without decentralized versions of the services that overhead institutions provide, including justice, media, banking, underwriting, and insurance, DAOs will not be able to compete with centralized companies.",
   "specific_name": "missing decentralized overhead institutions",
   "conditions": [],
   "source": "Future of Decentralization",
   "year": "2021",
   "quote": "The imagined future decentralized economy is missing almost all of the functions these institutions provide. Without decentralized versions of these services, DAOs will not be able to compete with centralized companies.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Future of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782201"
  },
  {
   "id": "kaal:claim:3931933-017",
   "url": "https://wulfkaal.github.io/claims/3931933-017",
   "claim": "Lack of validator expertise degraded the initial Casper testnet, with only around 85 percent of testnet nodes up to date and roughly 140 active machines contributing nothing to the network.",
   "specific_name": "unqualified validator participation",
   "conditions": [
    "initial Casper testnet"
   ],
   "source": "Hybrid Secure Proof of Stake",
   "year": "2021",
   "quote": "Lack of expertise also afflicted the initial Casper testnet. Only around 85% of the testnet nodes were up-to-date, with the rest of the active machines (around 140 machines at the time) not contributing to the network at all. Judging by the discussion and questions in the telegram channel,",
   "citation": "Wulf A. Kaal, Hybrid Secure Proof of Stake (2021). SSRN: https://ssrn.com/abstract=3931933"
  },
  {
   "id": "kaal:claim:3782192-038",
   "url": "https://wulfkaal.github.io/claims/3782192-038",
   "claim": "Decentralized money and decentralized contracts have been built, but decentralized business will not work until roughly eight further decentralized institutions that people actually use in business are built.",
   "specific_name": "Missing institutional layer for decentralized business",
   "conditions": [
    "decentralized commerce built on blockchain infrastructure"
   ],
   "source": "Introduction to Decentralization",
   "year": "2021",
   "quote": "Two important tools have been built, decentralized money (Bitcoin) and decentral- ized contracts (Ethereum). But it won't work until eight more decentralized institu- tions are built that people use to do business.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Introduction to Decentralization (2021). SSRN: https://ssrn.com/abstract=3782192"
  },
  {
   "id": "kaal:claim:3962614-020",
   "url": "https://wulfkaal.github.io/claims/3962614-020",
   "claim": "Alternative early round funding mechanisms are not necessarily more successful than VCs in early round technology investing, because they tend to act out of intuition and personal experience whereas VCs use a primarily data driven approach to investment decisions and portfolio company evaluation.",
   "specific_name": "Alternative funder idiosyncrasy",
   "conditions": [
    "early round technology investing"
   ],
   "source": "REPUTATION AS CAPITAL – How Decentralized Autonomous Organizations Address Shortcomings in the Ventu",
   "year": "2021",
   "quote": "Whereas alternative early round funding mechanisms often tend to act out of intuition and personal experience, VC typically use a primarily data driven approach to investment decisions and portfolio company evaluation and supervision.",
   "citation": "Wulf A. Kaal, REPUTATION AS CAPITAL – How Decentralized Autonomous Organizations Address Shortcomings in the Ventu (2021). SSRN: https://ssrn.com/abstract=3962614"
  },
  {
   "id": "kaal:claim:3962614-021",
   "url": "https://wulfkaal.github.io/claims/3962614-021",
   "claim": "Alternative early round funding methods frequently fail to provide adequate funding to fully launch a new company, and a significant number of tech startups that rely exclusively on these methods fail.",
   "specific_name": "Inadequate alternative funding",
   "conditions": [
    "startups relying exclusively on alternative early round funding"
   ],
   "source": "REPUTATION AS CAPITAL – How Decentralized Autonomous Organizations Address Shortcomings in the Ventu",
   "year": "2021",
   "quote": "these methods frequently fail to provide adequate funding to fully launch a new company. A significant number of tech startups that rely exclusively on these methods fail.",
   "citation": "Wulf A. Kaal, REPUTATION AS CAPITAL – How Decentralized Autonomous Organizations Address Shortcomings in the Ventu (2021). SSRN: https://ssrn.com/abstract=3962614"
  },
  {
   "id": "kaal:claim:3782217-016",
   "url": "https://wulfkaal.github.io/claims/3782217-016",
   "claim": "Oracle DAOs and decentralized finance DAOs face a bootstrapping deadlock because each relies on the other for its very existence, a chicken and egg problem the authors address by having participants prove their worth in a development period before they can charge other DAOs fees.",
   "specific_name": "mutual-dependency-deadlock",
   "conditions": [
    "early stage decentralized finance ecosystems"
   ],
   "source": "The Importance of History In Decentralization",
   "year": "2021",
   "quote": "Unfortunately, oracle DAOs and deFi DAOs rely on each other for their very existence. Which will come first, the chicken or the egg?",
   "citation": "Craig Calcaterra, Wulf A. Kaal, The Importance of History In Decentralization (2021). SSRN: https://ssrn.com/abstract=3782217"
  },
  {
   "id": "kaal:claim:3782217-027",
   "url": "https://wulfkaal.github.io/claims/3782217-027",
   "claim": "Existing decentralized news efforts including WikiNews, the Decentralized News Network, and Steemit failed to gain wide adoption because they lacked ambition; the goal should instead be to empower individuals with greater ability to communicate and cooperate.",
   "specific_name": "insufficient-ambition",
   "conditions": [
    "decentralized news projects to date"
   ],
   "source": "The Importance of History In Decentralization",
   "year": "2021",
   "quote": "All of these examples appear to us to have failed to gain wide adoption due to a lack of ambition. The goal should be to empower individuals with greater ability to communi- cate and cooperate.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, The Importance of History In Decentralization (2021). SSRN: https://ssrn.com/abstract=3782217"
  },
  {
   "id": "kaal:claim:3782210-035",
   "url": "https://wulfkaal.github.io/claims/3782210-035",
   "claim": "Reputation-based governance faces a chicken and egg problem: voting becomes more efficient once reputation is valuable, but reputation cannot become valuable without meaningful voting.",
   "specific_name": "Reputation voting bootstrap deadlock",
   "conditions": [
    "bootstrapping a reputation system on existing infrastructure"
   ],
   "source": "The Importance of Reputation for the Evolution of Decentralization",
   "year": "2021",
   "quote": "This is another chicken and egg problem. Voting will be more efficient with valu- able reputation. Reputation can't be valuable without meaningful voting.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, The Importance of Reputation for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782210"
  },
  {
   "id": "kaal:claim:4529715-013",
   "url": "https://wulfkaal.github.io/claims/4529715-013",
   "claim": "Unlike corporate founders, who inherit a known governance template, DAO founders must build a new form of governance from nothing alongside their technology, mission, and values.",
   "specific_name": "governance-from-scratch-burden",
   "conditions": [
    "comparison to incorporation of a traditional corporation"
   ],
   "source": "Decentralized Autonomous Organizations (DAO) – A Market Meta Analysis",
   "year": "2023",
   "quote": "want to develop a DAO are not only tasked with developing their tech, mission, and values, but also bear the responsibility of creating a new form of governance out of thin air.",
   "citation": "Wulf A. Kaal, Josh Bykowski, Decentralized Autonomous Organizations (DAO) – A Market Meta Analysis (2023). SSRN: https://ssrn.com/abstract=4529715"
  },
  {
   "id": "kaal:claim:4685567-010",
   "url": "https://wulfkaal.github.io/claims/4685567-010",
   "claim": "Credential tracking is a necessary condition for Impact 3.0: any Impact 3.0 platform built without WEB3 credential tracking systems will encounter significant disruption over time, as foreshadowed by the failure to enforce and monitor net zero commitments in Impact 1.0.",
   "specific_name": "Missing Credential Tracking",
   "conditions": [
    "Impact 3.0 platforms",
    "stakes higher than in Impact 1.0 carbon markets"
   ],
   "source": "Impact Investing Innovation - From Impact 1.0 to 3.0",
   "year": "2024",
   "quote": "Any Impact 3.0 platform without WEB3 credential tracking systems is bound to encounter significant disruption over time.",
   "citation": "Wulf A. Kaal, Impact Investing Innovation - From Impact 1.0 to 3.0 (2024). SSRN: https://ssrn.com/abstract=4685567"
  }
 ]
}