# kaal:claim:3782216-002

**Claim.** Because the decentralized economy currently lacks many of the civil institutions available in the larger economy, the average person should not invest anything in the crypto economy.

**Type.** normative  **Support.** argued

**Holds when.**

- before decentralized consumer protection institutions exist

**Source quote.**

> Since the de- centralized economy is currently lacking in many of the civil institutions that we enjoy in the larger economy, the average person should not invest anything in the crypto economy.

**From.** Craig Calcaterra, Wulf A. Kaal, *Decentralized Finance (DeFi)* (2021), Chapter 6. Finance

**Cite as.** Craig Calcaterra, Wulf A. Kaal, Decentralized Finance (DeFi) (2021). SSRN: https://ssrn.com/abstract=3782216

**Verify.** sha256 of source PDF `f1739743aa06bbc1641cd65da790d531b69d8628ea3f5cc3fcad1bf5a1242373` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Calcaterra%20and%20Kaal%20-%202021%20-%20Decentralized%20Finance%20%28DeFi%29.pdf

**Failure mode.** missing consumer protection  (family: investor-protection-gap)

**Topics.** defi, institutional-design

**Keywords.** defi, consumer-protection, crypto-investment, institutions

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