# Payments

`kaal:entity:payments`

**Status.** derived

This node is assembled mechanically from the 4 claims that carry the concept tag `payments`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

4 claims across 3 works, 2019 to 2025.

**2019**

- [3396522-037](https://wulfkaal.github.io/claims/3396522-037) [condition/argued] -- Non speculator lay people will not use cryptocurrencies for daily consumption, groceries, or banking transactions unless the value of the currency is stable; stability is a precondition of ordinary consumer use, not merely a convenience.
  > In other words, non- speculator lay people are not going to use cryptocurrencies for their daily consumption tasks, payment of groceries, banking transactions, among other examples, if the value of their cryptocurrency is not stable.
  Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019). SSRN: https://ssrn.com/abstract=3396522
- [3396522-039](https://wulfkaal.github.io/claims/3396522-039) [mechanism/argued] -- Near instant settlement with stable cryptocurrencies removes counterparty risk, and the resulting reduction in counterparty risk boosts consumer confidence and increases transactional certainty relative to systems like Visa that take five to seven business days to pay merchants.
  > Such speed in settlement takes away the counterparty risk and with less counterparty risk, speed of settlement with cryptocurrencies boosts consumer confidence and increases certainty for transactions.
  Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019). SSRN: https://ssrn.com/abstract=3396522

**2021**

- [3782205-031](https://wulfkaal.github.io/claims/3782205-031) [mechanism/asserted] -- Banking performs the necessary function of absorbing the risk of less secure but more efficient small transactions, which are then bundled before a more expensive but secure transaction is made with the central bank.
  > Banking: provides a necessary service to absorb the risk of less secure but more effi- cient small transactions. These are then bundled before a more expensive but secure transaction happens with the central bank.
  Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205

**2025**

- [5454054-003](https://wulfkaal.github.io/claims/5454054-003) [mechanism/argued] -- Retailer-issued stablecoins operate as an onchain Eurodollar play: they decentralize the creation of dollar-denominated liquidity, which reduces transaction costs and disintermediates traditional banks and their fees.
  > Retailer-issued stablecoins function as an onchain Eurodollar play that enables the decentralized creation of dollar-denominated liquidity, thus reducing transaction costs, and disintermediating traditional banking systems and their fees.
  Wulf A. Kaal, Liquid Equity Rewards (2025). SSRN: https://ssrn.com/abstract=5454054

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/payments.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.