# Store of value `kaal:entity:store-of-value` **Status.** derived This node is assembled mechanically from the 9 claims that carry the concept tag `store-of-value`. 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 9 claims across 7 works, 2018 to 2020. **2018** - [3266953-012](https://wulfkaal.github.io/claims/3266953-012) [mechanism/argued] *(failure mode)* -- Because power exercised over a store of value inevitably produces economies of scale, cryptocurrencies and any other transferable store of value drive networks toward centralization. > Because of the store of value entailed in cryptocurrencies (and really any currencies or store of value), exercise of power over such value inevitably leads to centralization due to economies of scale. Craig Calcaterra, Wulf A. Kaal, Gopinath Sivalingam, Reputation Protocol for the Internet of Trust - Conceptual Whitepaper (2018). SSRN: https://ssrn.com/abstract=3266953 - [3266953-013](https://wulfkaal.github.io/claims/3266953-013) [mechanism/argued] -- Reputation does not push a network toward centralization the way currency does, because reputation must be earned and can be lost yet cannot be turned into a fungible store of value exchangeable for goods. > Reputation as a metric and store of value does not suffer the same consequences described above and does not lead to centralization because it must be earned, it can be lost, yet it cannot be turned into a fungible store of value that allows the exchange for goods etc. Craig Calcaterra, Wulf A. Kaal, Gopinath Sivalingam, Reputation Protocol for the Internet of Trust - Conceptual Whitepaper (2018). SSRN: https://ssrn.com/abstract=3266953 **2019** - [3396522-033](https://wulfkaal.github.io/claims/3396522-033) [condition/argued] *(failure mode)* -- Decentralization technology is unlikely to proliferate without a core use case beyond store of value; banking, money transmission, and triple entry accounting are natural use cases but fall short of being universal use cases for public blockchains. > Moreover, without a core use case, other than the store of value, decentralization technology is less likely to proliferate. Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019). SSRN: https://ssrn.com/abstract=3396522 - [3402701-001](https://wulfkaal.github.io/claims/3402701-001) [condition/argued] -- A currency that does not hold a stable store of value forces continual recalculation and renegotiation of contracts, so any future decentralized economy will require stable cryptocurrencies. > A fluctuating currency requires continual recalculation and renegotiation. Therefore, any future decentralized economy will require stable cryptocurrencies Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies - First Order Principles (2019). SSRN: https://ssrn.com/abstract=3402701 - [3405401-023](https://wulfkaal.github.io/claims/3405401-023) [mechanism/argued] *(failure mode)* -- Because cryptocurrencies, like any currency or store of value, entail transferable value, the exercise of power over that value inevitably leads to centralization through economies of scale. > Because of the store of value entailed in cryptocurrencies (and really any currencies or store of value), exercise of power over such value inevitably leads to centralization due to economies of scale. Wulf A. Kaal, Decentralized Commerce – A Primer on Why Decentralized Reputation Verification Systems Are Needed (2019). SSRN: https://ssrn.com/abstract=3405401 - [3406323-020](https://wulfkaal.github.io/claims/3406323-020) [condition/argued] *(failure mode)* -- Without a core use case other than the store of value provided by Bitcoin, decentralization technology is less likely to proliferate; banking, money transmission, and triple entry accounting are natural but insufficient as universal use cases for public blockchains. > Without a core use case, other than the store of value (in Bitcoin), decentralization technology is less likely to proliferate. Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019). SSRN: https://ssrn.com/abstract=3406323 - [3406323-023](https://wulfkaal.github.io/claims/3406323-023) [failure/argued] *(failure mode)* -- Because cryptocurrencies embody a transferable store of value, the exercise of power over that value inevitably leads back to centralization through economies of scale, creating core points of attack that undermine the very nature of decentralization. > Because of the store of value entailed in cryptocurrencies (and really any currencies or store of value), exercise of power over such value inevitably leads to centralization due to economies of scale. Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019). SSRN: https://ssrn.com/abstract=3406323 - [3411897-028](https://wulfkaal.github.io/claims/3411897-028) [failure/argued] *(failure mode)* -- Because cryptocurrencies embody a transferable store of value, the exercise of power over that value inevitably leads to centralization through economies of scale, which creates core points of attack and undermines the very nature of decentralization. > Because of the store of value entailed in cryptocurrencies (and really any currencies or store of value), exercise of power over such value inevitably leads to centralization due to economies of scale. Wulf A. Kaal, Decentralization - Past, Present, and Future (2019). SSRN: https://ssrn.com/abstract=3411897 **2020** - [3606663-020](https://wulfkaal.github.io/claims/3606663-020) [failure/argued] *(failure mode)* -- Bitcoin functions as a medium of exchange for a number of businesses but arguably fails as a store of value and as a unit of account, because of its volatility and its lack of intrinsic value. > but it arguably fails as a store of value and as a unit of account because of its volatility and lack of intrinsic value. Kaal, Digital Asset Market Evolution (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3606663 ## 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/store-of-value.md | sha256sum **Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.