kaal:claim:3808852-020

Markets whose trades do not depend on physical location evolved without centralized coordination, as shown by the foreign exchange market, which developed decentralized because currency trading required no physical location.

Source quote, verbatim

For example, the foreign exchange (FX) market evolved without centralized coordination because currency trading did not require a physical location.

From

Wulf A. Kaal, Decentralization and Feedback Effects (2021), IV. Market Decentralization, p. 14
https://ssrn.com/abstract=3808852 · source PDF

Cite as

Wulf A. Kaal, Decentralization and Feedback Effects (2021). SSRN: https://ssrn.com/abstract=3808852

Holds when

holds where physical location is not determinative for the trade

Classification

conditionsupport: evidencedeconomicsdecentralization

Verify

The quote above is an exact substring of the source PDF, whose sha256 is 31e91158fdeefebc2f0be54ebf89751f7cdd4c89ecea932888f5ba9be6b1caba. Extraction method: pdf-text-layer.
Attestation record: colloquium/attestations/4b9b12943aebecbb...json
Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/3808852-020.md | sha256sum