# kaal:claim:3782205-028

**Claim.** Without price stability, typical consumers will never hold their checking account in a cryptocurrency and no one will enter a long-term contract for an essential service denominated in it.

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

**Holds when.**

- volatile, non-stabilized cryptocurrencies

**Source quote.**

> Without stability, typical consumers will never hold their checking account in the currency. No one will make a long-term con- tract for an essential service.

**From.** Craig Calcaterra, Wulf A. Kaal, *Eight Institutions for the Evolution of Decentralization* (2021), Chapter 9. Eight institutions, page 4

**Cite as.** Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205

**Verify.** sha256 of source PDF `5ba52c63e81019b6867fb29c4a50821ff574e510d79b31b8ce9f4c726a0ebc71` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Calcaterra%20and%20Kaal%20-%202021%20-%20Eight%20Institutions%20for%20the%20Evolution%20of%20Decentralization.pdf

**Failure mode.** Volatility-driven non-adoption  (family: adoption-and-usability-barrier)

**Topics.** tokenomics

**Keywords.** stablecoin, volatility, long-term-contracts, consumer-adoption

**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.