Author Topic: User Issued Asset Upgrades  (Read 18426 times)

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zerosum

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4) Issuers can now optionally retain complete control over all balances in their asset. (Freeze accounts, etc) Needed for legal compliance.

Can you give us a comfort level that this won't apply to bitUSD, bitGOLD, or bitSILVER?
There are no 'Issuers' per se, for those (i.e. they are not user issued assets)...so I hope this helps.
« Last Edit: December 02, 2014, 05:20:52 am by tonyk2 »

Offline Empirical1.1

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Offline Riverhead

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4) Issuers can now optionally retain complete control over all balances in their asset. (Freeze accounts, etc) Needed for legal compliance.

Can you give us a comfort level that this won't apply to bitUSD, bitGOLD, or bitSILVER?

Offline oldman

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Well done!

Funny how some of the most groundbreaking news can be so understated.

Offline Overthetop

a big step for BTA ,great!

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Offline gordonhucn

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4) Issuers can now optionally retain complete control over all balances in their asset. (Freeze accounts, etc) Needed for legal compliance.
5) Issuers can now optionally white list public keys that may own/trade the issued asset.

feature 4&5 support only public account or both public&titan account?

btw, line 124 in transaction_builder.cpp,  I didn't see memo support for public account transaction for the recipient

Offline kokojie

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Can Issuer pay dividends yet?

Offline abit

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Offline santaclause102

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1) You can now specify a required transaction fee (payable in user issued asset) once per transaction that withdraws that asset type.
2) You can now have multi-sig issuers/control over an asset
3) You can now have child asset symbols like child accounts to facilitate trust in a common issuer of related assets.
4) Issuers can now optionally retain complete control over all balances in their asset. (Freeze accounts, etc) Needed for legal compliance.
5) Issuers can now optionally white list public keys that may own/trade the issued asset.

With these powers Gateways can comply with all regulations just like with Ripple.  Companies can issue shares while remaining in full compliance with the law.

Is the traceability of tokens required for legal compliance in some way?

Quote
4) Issuers can now optionally retain complete control over all balances in their asset. (Freeze accounts, etc) Needed for legal compliance.
Would that be so that the user knows in advance whether the issuer has this capability or can any issuer gain that capability after having issued the assets?

Assets can become less restrictive but not more restrictive.

Traceability is required for compliance with SEC for issuing shares in companies and KYC for depositors.    Laws vary by state/country/etc but with what we have implemented the issuer/users has freedom to comply as little or as much as they want.
So Titan can be turned of also at a (not thin) client level?

Offline bytemaster

Can you still create user issued asset that is completely decentralized?
Meaning issuer doesn't have any control over it (except initial distribution)?

Of course.
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Offline emski

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Can you still create user issued asset that is completely decentralized?
Meaning issuer doesn't have any control over it (except initial distribution)?

Offline GaltReport

 +5% Great work.  Things are advancing rapidly it seems!

Offline CLains

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Offline alt

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thanks for your work!

Offline bytemaster

1) You can now specify a required transaction fee (payable in user issued asset) once per transaction that withdraws that asset type.
2) You can now have multi-sig issuers/control over an asset
3) You can now have child asset symbols like child accounts to facilitate trust in a common issuer of related assets.
4) Issuers can now optionally retain complete control over all balances in their asset. (Freeze accounts, etc) Needed for legal compliance.
5) Issuers can now optionally white list public keys that may own/trade the issued asset.

With these powers Gateways can comply with all regulations just like with Ripple.  Companies can issue shares while remaining in full compliance with the law.

Is the traceability of tokens required for legal compliance in some way?

Quote
4) Issuers can now optionally retain complete control over all balances in their asset. (Freeze accounts, etc) Needed for legal compliance.
Would that be so that the user knows in advance whether the issuer has this capability or can any issuer gain that capability after having issued the assets?

Assets can become less restrictive but not more restrictive.

Traceability is required for compliance with SEC for issuing shares in companies and KYC for depositors.    Laws vary by state/country/etc but with what we have implemented the issuer/users has freedom to comply as little or as much as they want.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.