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 "@id": "https://wulfkaal.github.io/positions/2026-07-31-6737",
 "identifier": "kaal:position:2026-07-31-6737",
 "additionalType": "https://wulfkaal.github.io/positions/schema.json#AffirmedPositionClaim",
 "name": "Streaming Initial Coin Offerings As Security Offerings A Comparison Of Legal Appro 1Ac71C1913",
 "text": "Initial coin offerings as security offerings: a comparison of legal approaches in the United States and France presents the following source proposition: This thesis canvasses how the United States, France, and the European Union have approached the issue of whether ICOs should be considered securities offerings for the purpose of applying securities law. This proposition is pertinent to Kaal's source-bound claim that Zombie ICOs, which have little chance of creating a successful market for their tokens, became increasingly common in 2017 and are identifiable by their inability to answer core questions about the problem solved, the allocation of proceeds, the viability of the product, and the team's business experience. The proposed response is an extension: the relationship should remain limited to the retrieved source proposition and the mapped Kaal claim unless fuller source review supports a broader conclusion.",
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0009-0008-7840-1847"
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 "datePublished": "2026-07-31",
 "dateModified": "2026-07-31",
 "creativeWorkStatus": "Affirmed",
 "responseType": "extension",
 "keywords": [
  "securities-law",
  "economics",
  "historical-response",
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  "openalex"
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  "The response is limited to the retrieved source proposition and mapped Kaal claim unless fuller source review supports a broader conclusion.",
  "External evidence level: abstract indexed.",
  "Mapping review tier: moderate-confidence claim review.",
  "Primary mapping confidence: 0.3776.",
  "The source-to-claim mapping remains explicitly ambiguous and is published with that limitation."
 ],
 "currentDebate": {
  "name": "Initial coin offerings as security offerings: a comparison of legal approaches in the United States and France",
  "url": "http://hdl.handle.net/1993/35495"
 },
 "extends": {
  "identifier": "kaal:claim:3067615-033",
  "url": "https://wulfkaal.github.io/claims/3067615-033",
  "citation": "Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615",
  "paper": "Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags",
  "authors": [
   "Wulf A. Kaal"
  ],
  "year": "2017",
  "ssrn": "https://ssrn.com/abstract=3067615",
  "source_pdf_sha256": "164ce15b9eb1e8847ebcb073f5b23a96b4974ad0308d77469a9455d4a1ebeb38"
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   "url": "http://hdl.handle.net/1993/35495"
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 "review_provenance": "https://kaal-signal-desk.wulf577462.chatgpt.site/#review",
 "publicationStatus": "public",
 "recordTypeNote": "Dated commentary position extending a scholarly corpus claim. Not a verbatim claim extracted from the paper.",
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 "version": "1.0",
 "canonical_url": "https://wulfkaal.github.io/positions/2026-07-31-6737",
 "canonicalForm": "https://wulfkaal.github.io/positions/2026-07-31-6737.md",
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 "evidenceLevel": "abstract indexed",
 "reviewTier": "moderate-confidence claim review",
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 "mappingAmbiguous": true,
 "mappingMethod": "idf-weighted multi-field mapping v1",
 "mappingWhyRelevant": "Shared high-information concepts: initial, coin, offerings, have, icos, securities, law, business. Scope: ICO market in 2017.",
 "sourceProvenance": {
  "source": "openalex",
  "sourceRecordId": "https://openalex.org/W3200258437",
  "queryId": "concept:ee778ad15ea3",
  "queryText": "decentralized autonomous organization",
  "canonicalUrl": "http://hdl.handle.net/1993/35495",
  "doi": null,
  "externalIds": {
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  "workId": "work:openalex:https://openalex.org/W3200258437",
  "workAuthors": [
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  "workPublishedAt": "2021-05-05",
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    "method": "idf-weighted multi-field mapping v1",
    "whyRelevant": "Shared high-information concepts: initial, coin, offerings, have, icos, securities, law, business. Scope: ICO market in 2017.",
    "ambiguous": true
   },
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    "claimId": "kaal:claim:3002908-039",
    "claimUrl": "https://wulfkaal.github.io/claims/3002908-039",
    "rank": 2,
    "confidence": 0.3752,
    "method": "idf-weighted multi-field mapping v1",
    "whyRelevant": "Shared high-information concepts: initial, coin, offerings, united, states, have, icos, securities. Scope: twelve month window reported as of mid 2017.",
    "ambiguous": true
   },
   {
    "claimId": "kaal:claim:3067615-029",
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    "method": "idf-weighted multi-field mapping v1",
    "whyRelevant": "Shared high-information concepts: initial, coin, offerings, legal, icos, securities, law, market. Scope: ICO market as of November 2017; United States securities regulation.",
    "ambiguous": true
   },
   {
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    "confidence": 0.3623,
    "method": "idf-weighted multi-field mapping v1",
    "whyRelevant": "Shared high-information concepts: initial, coin, offerings, icos, securities, law, banking, risk. Scope: start-up fundraising conditions before and during the emergence of the ICO market.",
    "ambiguous": true
   },
   {
    "claimId": "kaal:claim:3067615-001",
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    "method": "idf-weighted multi-field mapping v1",
    "whyRelevant": "Shared high-information concepts: initial, coin, offerings, icos, securities, law, finance, risk. Scope: ICO market as of November 2017.",
    "ambiguous": true
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 "userAffirmation": "I affirm batch kaal-review:2026-07-31:streaming-etl-0005, SHA-256 38dc4a26b86055f59a04f2f22c00881f6c50aa4c4e33c702b9de7f310a3e9995, as written and authorize publication of all 248 response claims on my canonical property, preserving their evidence levels, ambiguity labels, provenance, and the unchanged 5,033 scholarly claims.",
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}