kaal:claim:3782192-039

Money and contracts are worthless in business with counterparties who cannot be trusted to keep a bargain, so decentralized commerce requires a system in which reputation means something.

Source quote, verbatim

Money and contracts are worthless in business with barbarians who can't be trusted to keep a bargain. To do business, we need a system where reputation means something.

From

Craig Calcaterra, Wulf A. Kaal, Introduction to Decentralization (2021), Future, p. 11
https://ssrn.com/abstract=3782192 · source PDF

Cite as

Craig Calcaterra, Wulf A. Kaal, Introduction to Decentralization (2021). SSRN: https://ssrn.com/abstract=3782192

Holds when

decentralized business among parties without prior trust

Classification

conditionsupport: arguedreputationdecentralizationinstitutional-design

Related claims

extends kaal:claim:3405401-033 Truly increasing counterparty trust in decentralized smart contract based commerce requires that counterpartie...

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Attestation record: colloquium/attestations/0d693dfbf9035813...json
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