# kaal:claim:3411897-027

**Claim.** People will not enter into long term smart contracts without a stable currency to refer to, because the current level of cryptocurrency volatility does not lend itself to consumption.

**Type.** failure  **Support.** argued

**Holds when.**

- long duration smart contracts such as leases
- volatile cryptocurrency denominations

**Source quote.**

> Finally, people will not enter into a long-term smart contract unless they have a stable currency to refer to. The current level of volatility in cryptocurrencies does not lend itself to consumption.

**From.** Wulf A. Kaal, *Decentralization - Past, Present, and Future* (2019), Part 2: The Present, Decentralization Neutralizers, page 35

**Cite as.** Wulf A. Kaal, Decentralization - Past, Present, and Future (2019). SSRN: https://ssrn.com/abstract=3411897

**Verify.** sha256 of source PDF `82f0aea026b3e3a526ec51bc073b3b864dc06cd9083ff9c54c550037045edaa9` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202019%20-%20Decentralization%20-%20Past%2C%20Present%2C%20and%20Future.pdf

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

**Topics.** smart-contracts

**Keywords.** volatility, smart-contracts, stable-cryptocurrencies, consumption

**Related claims.**

- restates: https://wulfkaal.github.io/claims/3406323-022

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