kaal:claim:3782205-030

The stablecoin cannot be efficient until a robust decentralized economy already exists, producing a chicken and egg problem in which the required institutions presuppose one another.

Source quote, verbatim

We need a robust decentralized economy (#W, below) before the stablecoin can be efficient—another chicken and egg problem.

From

Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021), Chapter 9. Eight institutions, p. 4
https://ssrn.com/abstract=3782205 · source PDF

Cite as

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

Classification

conditionsupport: arguedfailure: Chicken and egg dependencyfamily: cold-start-and-bootstrappingtokenomicsinstitutional-design

Related claims

restated_by kaal:claim:3782216-034 Stablecoin collateralization and a robust decentralized economy form a chicken and egg problem: a stablecoin c...

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