# Market infrastructure

`kaal:entity:market-infrastructure`

**Status.** derived

This node is assembled mechanically from the 3 claims that carry the concept tag `market-infrastructure`. 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

3 claims across 3 works, 2018 to 2022.

**2018**

- [3117224-030](https://wulfkaal.github.io/claims/3117224-030) [empirical/evidenced] -- At the time of publication there were no registered marketplaces or alternative trading systems for cryptocurrency in Canada.
  > At the time of publication, there were no registered marketplaces or ATS's in Canada.
  Wulf A. Kaal, Initial Coin Offerings The Top 25 Jurisdictions and Their Comparative Regulatory Responses (2018). SSRN: https://ssrn.com/abstract=3117224

**2019**

- [3411110-039](https://wulfkaal.github.io/claims/3411110-039) [failure/argued] *(failure mode)* -- The Overstock structure fails to deliver investor privacy, because all existing broker-dealer customer agreements contain provisions allowing the broker-dealer to share the customer's identity, whereas ideally the individual's privacy would be contained.
  > For instance, all existing broker-dealer customer agreements included provisions which allows the broker-dealer to share the identity of the customer. Ideally, the privacy of the individual would be contained.
  Wulf A. Kaal, Samuel Evans, Blockchain-Based Securities Offerings (2019). SSRN: https://ssrn.com/abstract=3411110

**2022**

- [4033886-002](https://wulfkaal.github.io/claims/4033886-002) [mechanism/argued] *(failure mode)* -- Digital asset valuation uncertainty is produced by the combination of an immature digital asset market and a valuation infrastructure, legal, accounting, finance, technology, and back office, that was not built for these assets.
  > The valuation infrastructure in the current legal, accounting, finance, technology, and back-office framework in combination with the immaturity of the digital asset market create an environment where digital asset valuation continues to be a mystery.
  Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022). SSRN: https://ssrn.com/abstract=4033886

## 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/market-infrastructure.md | sha256sum

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