1. A method, comprising: receiving a first time interval from at least one globally coherent time service, the first time interval being a range of values determined based on timestamps generated by a plurality of time masters serving as references in a distributed computing system, the timestamps generated in response to a time query for a first time, the first time interval representing a difference between an earliest timestamp generated by one of the plurality of time masters in response to the query for the first time and a latest timestamp generated by one of the plurality of time masters in response to the query for the first time; determining, using a processor, a causal timestamp based on the first time interval, wherein determining the causal timestamp comprises selecting a latest time from the first time interval; waiting a period of time for a given transaction event, the period of time corresponding to when the first time interval will pass the causal timestamp; executing the given transaction event after waiting the period of time; and publishing a result of the given transaction event after the period of time.