# Secondary markets

`kaal:entity:secondary-markets`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `secondary-markets`. 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

2 claims across 2 works, 2018 to 2021.

**2018**

- [3227933-036](https://wulfkaal.github.io/claims/3227933-036) [mechanism/argued] -- Unlike a conventional corporate loyalty program, company or industry tokens offer liquidity, because platform participants can sell and transfer them on crypto exchanges or secondary markets, which integrates the token and the platform into the mainstream economy.
  > Platform participants can sell and transfer them to other interested parties on crypto exchanges or secondary markets. These parties could be the "public" or a more restricted and pre-defined group of people. Either way, it integrates the token (and the platform) into the mainstream economy.
  Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Why 'Blockchain' Will Disrupt Corporate Organizations (2018). SSRN: https://ssrn.com/abstract=3227933

**2021**

- [3808859-030](https://wulfkaal.github.io/claims/3808859-030) [definitional/asserted] -- Tokenization of assets is the issuance of a digital asset that forms the digital representation of an existing real-world asset, analogous to securitization in that it converts liquid or illiquid real-world assets into tradable digital instruments.
  > The tokenization of assets refers to the process of issuing a digital asset that forms the digital representation of an existing real-world asset.
  Wulf A. Kaal, Decentralization – Why We Need Technology Infrastructure Upgrades (2021). SSRN: https://ssrn.com/abstract=3808859

## 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/secondary-markets.md | sha256sum

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