[BitShares 2.0 Technologies] User-Issued Assets (Discussion)

[starspirit]

What is the mechanism to pay feed producers for privatised Smartcoins?

[starspirit]

Why are privatised bitAssets being treated as user-issued assets (UIAs) rather than market-issued-assets (MIAs)? I am confused on what delineates the two - is there a definition?

It seems to be that privatised bitAssets are not actually being issued by a user, and outcomes are not subject to the ongoing performance of the person setting it up. Like MIAs, somebody is merely establishing the software rules under which different parties can interact with each other in a decentralised fashion. Why aren't these just a privatised form of MIA?

I guess there might be pragmatic reasons to do it this way. But I'm wondering how it might look legally (at least on the surface) if, by name at least, we infer these tokens are being issued by a particular party.

[robrigo]

Just to be clear, let's say a user has already issued assets without the new KYC/AML requirements. Does that user have to retroactively go back and get all of that info?

And what about assets like NOTE, that are just placeholders for a future blockchain?

This is not good news to me. Pseudonymity and TITAN were two of the biggest selling points for Bitshares for me.

User issued assets can choose to retain or revoke the permissions that enable them to halt balances and markets, as well as retract assets. In this way a UIA issuer can have anywhere from full control to no control.

[joereform]

Just to be clear, let's say a user has already issued assets without the new KYC/AML requirements. Does that user have to retroactively go back and get all of that info?

And what about assets like NOTE, that are just placeholders for a future blockchain?

This is not good news to me. Pseudonymity and TITAN were two of the biggest selling points for Bitshares for me.

[xeroc]

BitShares 2.0 Technologies
User-Issued Assets



Issue stocks, bonds, or other tokens while being compatible with KYC and AML regulations
The BitShares platform provides a feature known as "user-issued assets", designed to help facilitate profitable business models for certain types of services that integrate with the platform. The term user-issued asset refers to a type of custom token registered on the platform, and which users can hold and trade while obeying certain specified restrictions. The creator of such an asset gets to publically name, describe, and distribute its tokens as desired. In addition, the issuer can specify certain custom requirements for the asset: such as allowing only an approved whitelist of user accounts to hold the tokens, or requiring users to pay certain fees when transferring or trading the tokens.

full length