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Online BunkerChain Labs

UIA Clawback Question
« on: February 04, 2015, 01:13:34 AM »

Just want to understand something about UIAs.

I understand the issuer has the power to take back the UIA to the end user that receives it.

After that though, the holder then goes to the BTS market and sells it to someone else who buys it.

Does the issuer of the UIA still have the capability to know who that new holder is and potentially clawback the asset?

Thanks,

Jonathan
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Offline xeroc

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Re: UIA Clawback Question
« Reply #1 on: February 04, 2015, 06:59:55 AM »
Just want to understand something about UIAs.

I understand the issuer has the power to take back the UIA to the end user that receives it.

After that though, the holder then goes to the BTS market and sells it to someone else who buys it.

Does the issuer of the UIA still have the capability to know who that new holder is and potentially clawback the asset?
This is not yet implemented in the client.

From what I understand, every UIA will have a set of permissions of the issue
registered alongside the asset itself, like a parameter of the asset.

If you buy up those assets you are (read: should be) very well aware of that
fact. It's the same with traditional stock. That's also the motivation for this.
The devs want a UIA system that can support (if required) a regulated market. So
you have to be able to freeze funds, take them away from you, lock trading, and
most importantly, identify every holder.
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Re: UIA Clawback Question
« Reply #2 on: February 04, 2015, 09:45:07 PM »
Just want to understand something about UIAs.

I understand the issuer has the power to take back the UIA to the end user that receives it.

After that though, the holder then goes to the BTS market and sells it to someone else who buys it.

Does the issuer of the UIA still have the capability to know who that new holder is and potentially clawback the asset?
This is not yet implemented in the client.

From what I understand, every UIA will have a set of permissions of the issue
registered alongside the asset itself, like a parameter of the asset.

If you buy up those assets you are (read: should be) very well aware of that
fact. It's the same with traditional stock. That's also the motivation for this.
The devs want a UIA system that can support (if required) a regulated market. So
you have to be able to freeze funds, take them away from you, lock trading, and
most importantly, identify every holder.

Thanks for this Xerox. This is what my understanding was as well. While planning I realized that in the initial offer I have no problem implementing my own AML/KYC measures.. however after that it's an open market that can be traded with others in the bitshare ecosphere which I could not vet. So I wanted to know if I can continue to maintain this level of control if I discover holders of our shares are risk factors for criminal association.

From your response am I to understand these permission levels are available in command line but not in the qt_wallet?

If not, when could we expect these to be available?

Thanks again!  +5%

Jonathan
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Offline xeroc

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Re: UIA Clawback Question
« Reply #3 on: February 04, 2015, 09:49:06 PM »
IIRC you will be able to limit trading of those assets ..

Not implemented yet .. not GUI nor CLI
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Re: UIA Clawback Question
« Reply #4 on: February 04, 2015, 10:23:38 PM »
IIRC you will be able to limit trading of those assets ..

Not implemented yet .. not GUI nor CLI

Is it possible or even likely that this functionality once implemented can be applied to existing UIA?

For example suppose we used the current iteration of UIA with the expectation of the future permissions being discussed. Could I then apply and change the permission structure of the issued UIA?
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Offline vikram

Re: UIA Clawback Question
« Reply #5 on: February 04, 2015, 11:29:53 PM »
For example suppose we used the current iteration of UIA with the expectation of the future permissions being discussed. Could I then apply and change the permission structure of the issued UIA?

No guarantees at the moment; it is safest to wait.

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Re: UIA Clawback Question
« Reply #6 on: February 05, 2015, 12:33:31 AM »
For example suppose we used the current iteration of UIA with the expectation of the future permissions being discussed. Could I then apply and change the permission structure of the issued UIA?

No guarantees at the moment; it is safest to wait.

Ahhh nuts :(
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