I'll go even nerdier. Having implemented raft and paxos many times over (don't ask why, and also don't ask what implementing paxos means, no one really knows) The most efficient distributed systems rely on _not_ having Byzantine faults[1] -- effectively there's a certain amount of trust you need to delegate to the network. The network itself is the substrate in which these algorithms can work efficiently. Short of that you'll need to move to a system that is tolerant to Byzentine faults. The cost of moving there is very expensive transactionally-speaking.

For markets the analogy is the same: a regulatory environment provides the substrate in which an efficient distributed system can rely on to prevent Byzentine faults.

[1] https://en.wikipedia.org/wiki/Byzantine_fault -- for all intents and purposes byzentine == malicious.

edit: I should have read the article to the end, literally the next paragraph where I stopped to comment said what I just said, but better.