# kaal:claim:3782216-007

**Claim.** The application that decentralized banking improves most is not currency tokens but reputation tokens, because reputation transactions such as voting and resolving validation pools are generated by every meaningful action.

**Type.** design  **Support.** argued

**Source quote.**

> The application that banking most improves, however, is not currency tokens, but reputation tokens. Reputation transactions include voting, resolving a validation pool and distributing the results

**From.** Craig Calcaterra, Wulf A. Kaal, *Decentralized Finance (DeFi)* (2021), Banking and ZKRollups

**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

**Topics.** reputation, tokenomics, decentralization, systemic-risk

**Keywords.** reputation-tokens, validation-pools, decentralized-banking, bundling

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