No, it can't. The borrower's reputation doesn't isn't a tangible asset. Collateral needs to be able to be sold to recuperate losses. A bank can't sell someone else's reputation. If someone launched a stable coin, and claimed it was backed up 1-to-1 with "reputation", they would be laughed off the forum.

So why have you changed your mind? You quote that article in 2016, and you seem to agree in that post that banks "don't need deposits" to create money. Yet now you seem to think that banks don't create money out of nothing, and all loans are collateralized, which is categorically not true.