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 "text": "Market liquidity depends on trustworthiness, and trustworthiness depends on observed momentum: isolated instances of motion are insufficient, because the observations must be collected into a history before they carry weight and meaning.",
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0009-0008-7840-1847"
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 "citation": "Craig Calcaterra, Wulf A. Kaal, The Importance of History In Decentralization (2021). SSRN: https://ssrn.com/abstract=3782217",
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  "name": "The Importance of History In Decentralization",
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 "keywords": [
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 "abstract": "To achieve liquidity, marketplaces must be trustworthy. They need momen- tum. It's not enough to achieve motion in any particular instance. Momentum must be observed to give trust to the marketplace. These observations need to be collected in a history to give them weight and meaning.",
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