We examine the relationship between innovation as measured by annual utility patents granted and two datasets for legislation: (1) the U.S. Code and (2) the Code of Federal Regulations from 1984 to 2015. We show that the historical relationship between innovation and legislation has changed,...

The traditional 2/20 fee structure of private investment funds has come increasingly under pressure in the last ten years. Typical factors considered to explain the pressure on fees in the industry include the inadequate performance of the private investment fund industry, the ability of large...

Contingent capital securities are a largely overlooked dynamic regulatory mechanism. This essay evaluates the use of contingent capital securities in a dynamic regulatory context, including the use of feedback effects for optimized timing and information for regulation and anticipatory regulation

Existing valuation metrics for legacy assets only limitedly apply in the context of digital assets. The valuation infrastructure in the current legal, accounting, technology, and back-office framework in combination with the immaturity of the digital asset market create an environment of digital...

The nomenclature for the term “securities token” is unclear and the term securities token has not been defined. The lack of a clearly delineated nomenclature resulted in various uses and interpretations of the term securities token, especially vis-à-vis the term “utility token.” This...

Fair Token Launches (Fair Launch) on average outperform most traditional digital asset projects. The comparative advantage of Fair Launches derives largely from their ability to remedy many of the perceived inequitable token launch practices of traditional digital asset projects. This article...

The paper examines the existing shortcomings in the open-source code review process and how decentralized autonomous organizations can help optimize the code review process and quality. Optimized code reviews and code review processes, in turn, can help create open-source software standards. The...

Charitable giving in legacy systems is subject to several major downsides that can be addressed with decentralized autonomous organizations (DAOs). Centralized legacy charitable organizations often lack foundational transparency and are subject to significant power imbalances that favor the...

The custody of digital assets plays an essential role in the evolution of the digital asset industry. Fully compliant legal custody solutions for digital assets increase legal certainty and mainstream investor confidence which, in turn, helps build markets in digital assets. Once digital asset...