kaal:claim:4033886-014

Redemption contracts, the traditional price commitment device for privately issued money, lack credibility, whereas pre programmed smart contracts deliver an enforceable and secure quantity commitment instead.

Source quote, verbatim

Such redemption contracts lack credibility.31 In contrast, the pre-programmed smart contract's enabled by cryptocurrencies facilitate an enforceable and secure quantity commitment.32

From

Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022), II.2 Impact of Digital Asset Characteristics on Valuation, p. 12
https://ssrn.com/abstract=4033886 · source PDF

Cite as

Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022). SSRN: https://ssrn.com/abstract=4033886

Holds when

issuers of privately issued money

Classification

failuresupport: arguedfailure: non credible redemption contractfamily: valuation-and-pricing-failuresmart-contractsreputationtokenomics

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