kaal:claim:3782216-031

Contrary to the industry practice of full backing, a full reserve is not always necessary, because a currency also has intrinsic worth derived from the authentic economic activity it represents.

Source quote, verbatim

On the contrary, we argue that a c::% reserve is not always necessary, as is the case with any currency which has an intrinsic worth.

From

Craig Calcaterra, Wulf A. Kaal, Decentralized Finance (DeFi) (2021), Hot money
https://ssrn.com/abstract=3782216 · source PDF

Cite as

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

Holds when

currencies with intrinsic worth from authentic transactions

Classification

conditionsupport: arguedtokenomics

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