# kaal:claim:3406323-022

**Claim.** People will not enter into long term smart contracts without a stable currency to refer to, since no renter and landlord will gamble future wealth on a lease that may halve or double in value in any given month.

**Type.** condition  **Support.** argued

**Holds when.**

- long term smart contracts denominated in volatile cryptocurrencies

**Source quote.**

> Finally, people will not enter into a long-term smart contract unless they have a stable currency to refer to.

**From.** Wulf A. Kaal, *Decentralization - A Primer on the New Economy* (2019), V. Obstacles, page 12

**Cite as.** Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019). SSRN: https://ssrn.com/abstract=3406323

**Verify.** sha256 of source PDF `6293780b57a1ae1de17ec00f99cc94295d4f72ea4d08b17a5c08c44772b221db` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202019%20-%20Decentralization%20-%20A%20Primer%20on%20the%20New%20Economy.pdf

**Failure mode.** volatility-blocks-long-term-contracting  (family: valuation-and-pricing-failure)

**Topics.** tokenomics, smart-contracts

**Keywords.** stablecoins, smart-contracts, volatility, long-term-contracting

**Related claims.**

- restated_by: https://wulfkaal.github.io/claims/3411897-027
- restated_by: https://wulfkaal.github.io/claims/3782205-028

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.