This thread is a rabbit hole of whitepapers. Awesome!!
Read this report on a flight today. The report dicusses different ways to classify projects using blockchain ledgers in centralized and decentralized manners. BitShares was mentioned once (in reference to Pactum). Use cases in the financial system are described as well. Good job Tim.
http://www.ofnumbers.com/wp-content/uploads/2015/04/Permissioned-distributed-ledgers.pdf
We're the guys behind Pactum btw.
The report says it is tokenless but also uses DPOS. Can you talk about what mechanism you use to vote for delegates in a tokenless DPOS?
For DPOS to work you need shares (a percentage of ownership which everybody agrees on). This percentage can be dynamic and the result of a contract rather than fixed tokens. In Pactum's case it represents the a specific ratio of past reimbursement of IOUs towards all other players in the game.
Pactum's goal is to assign in a distributed and P2P trustless manner counterparty risk coefficients to any state machines (blockchains, servers, smart contracts, governments, companies, legal systems, etc). These coefficients can then be for risk hedging between state machines. The side-effect is that it organically creates a global unit of account, by definition stable and independent of any governments. This unit of account can be used by any bitAsset or stable-coin system as the ultimate price feed.
We believe that without such a risk determining and hedging mechanism you can't have "an internet of blockchains" nor true globalization of commerce.