SD (Structured Data) Shares?

#1

I had a discussion with @dallyshalla and proposed an idea that might be very useful. 1 Structured Data unit holds the previous and current owner’s public ID.

What if we use the “Safecoin wallet address” as the owner ID?

How is this useful?

I create 100 Shares (Structured Data). And each share represents 1% of my company’s profit revenue. So if the company earns 1000 Safecoins, it pays 10 SC to each share’s wallet address. This would be amazing for crowd sales.

If the owner of that share sells it on SAFEX to someone else, the Safecoin wallet address changes to the new owner. The company DAO looks up each share’s wallet address for Safecoin payout.

Is there an easier way to do this?

Is the owner’s ID the same as the wallet address?

Can it be that simple?

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#2

Certainly sounds like a good idea.

Not securely anyway

There are perhaps a couple of points I can think of

  • A person may have more than one SAFE account. Doesn’t affect this I expect.
  • the SAFE account client has been suggested that it can generate new SAFEcoin addresses to allow anon transfers of coin. EG for sending/receiving coins without a profile of their spending habits made.

So I’d say the SAFEcoin “wallet” address is not their client ID.

But there is no reason the “wallet” address could not be used since only that client has control over it. A bit like typical crypto where people own things by virtue of controlling a BTC address, yet teh person may have many addresses.

Yes, it seems that simple.

Its a great idea and can be used for so many things

Like when SAFE “takes over” electronic ticket sales to events could be done this way and to enter the event the person flashes the QR code of their “wallet ID” & ticket# and the venue verifies that against the current owner of that ticket on the SAFE network

This could almost be used to “own” and verify “ownership” of any electronic item/ticket/voucher/etc

2 Likes
#3

Agreed,

I think this simple solution offers a ton of utility and can open up the doors to innovation while preserving anonymity… because the Structure Data ID is just a wallet address, not the owners client ID.

Potential Applications:

and many other uses, we haven’t thought of yet!

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#4

A very interesting use case could be a variation on the shares: a self issued bond, where interest payments are automatically distributed to the current bond owner, and bonds themselves can be traded at will.

Think of crowd funding a mortgage using self issued bonds, with specific conditions for buy-backs etc.

These bonds could be sold on Safex, and should hold a steady value relative to the fiat they’re denominated in.

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#5

Any idea of how secure this would be? How to make it secure? I can imagine someone offering bonds and not paying interest let alone repaying them at some time in the future.

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#6
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#7

you’ll have cryptographic proof with supporting documentation and hopefully a public notary stamped on the docs, and if not making payments there is a legal system in the US that will help settle the dispute. At least your evidences are hashed and securely signed.

And if it;s all crypto as in the payments are cryptographic currency, then it is a simple matter I think, we can make automatic escrow where the funds are automatically escrowed… hmm something to consider if it’s ethical. To make a wallet that automatically garnishes it’s balance and escrows it for payment, it might make managing money easier guarantee payments etc, but could be hassle and avoided like the plague by people in general.

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#8

Like Daniel said, it could be a mixture of crypto security measures, plus local legal systems where necessary. The clear, legally binding contract would be bound in a blockchain or similar, but in some cases legal means would need to be take to resolve issues.

When it comes to property, in extreme cases, the property could be repossessed to pay off bondholders who are owed money.

Insurances, reserve accounts, and guarantors could also play a part in the system.

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#9

People,

Thanks to David for pointing me here! David and I have been talking for some time about a few of my projects but there is one in particular that might be interesting to consider for this facility and this topic. Briefly, I am interested in creating a village community of people who are interested in health and longevity - see here for the background detail:

http://lev.com.au

I am building the first and second house in the village myself and will probably renting them out while I try to find other people who are enthusiastic about the “vision” and want to get involved. The total number of houses planned for the village is 12 but I REALLY want to explore alternative funding methods to get the rest of the houses built. I saw that there has been some interest recently in Crowd Funding property developments (I signed up with: http://coassets.com ) but that really doesn’t fit with what I am trying to do I think.

Ideally, it would be fantastic to be able to create this vibrant and energetic community that I have in mind and for it to be increasingly making use of the SAFE environment for its internal business.

Feel free to ask questions and comment!

Regards,
Phil.

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#10

Hey just saw your idea and have skimmed thru the website , I have been playing with what looks to be maybe slightly similar to what i ideally want to do. sorry if this is off topic for everyone else in the topic

I have been playing around with a similar idea for many many months , creating pretty much my own village /small town .

Most likely from growing hemp to make hempcreate(stronger, more resistant and massively much more energy efficient than most modern used materials, there are roman bridges around europe still in use today built of this stuff)

Hemp can literally be used to make 10,000+ objects from fine silken like materials to very heavy dense carpet like fibres depending on how you treat it, it can also be used to turn into waxes and paints and cellulose structures, also as a 3d printer material and a source of food or fuel .

sorry i am chatting on . basically the main concept it to build houses/homes that themselves produce an income for the resident living in them, Technology has gotten to a point and is continuing in the direction of being able to create enough value from the small area you own to live off without needing to “work” in a 9-5 job

Energy production (wind , water and sunlight)
Food production, (indoor vertical farming with the ability to produce upto 40 times more food in the same space as conventional farming.)
Blockcain and other tech - the appliances of your house all acting as extra security to the latest blockchains/maidsafe like technologies

3d printers producing the majority if not all the components needed to build such a home, so those living in the first homes have the ability to produce and build the next ones so the more that are built the more than can be built.

I truly believe the next industrial revolution is going to be setting us back to like america was during the beginning of the large immigration there, back to an agrarian society.

Imagine a central decentralized Hub online, people connect to it whenever they want anything, instead of it being made in a factory it is made by someones 3d printer, millions of 3d printers all connected to this 1 central hub , by a similar process as to how safecoins are earned, would be the same way products are made, (randomly assigned tasks to random 3d printers, making it mathematically fair and equal so on average everyone connected to the hub gets around the same amount of orders/earning potential.

Millions of 3d printers all connected able to produce millions of items in a matter of hours.

3d printers able to make anything from a simple folk to engine parts.

Sorry for babbling on, It’s great to see other people with similarish ideas and i would be very interested in when you find an adequate medium to conduct your fund raising efforts . I know our ideas are slightly different or more different in some ways than others but i look forward to the developments over the next few months and the possibility to help in someway to bring the idea to full fruition.

#11

The best concept I’ve found for property funding so far involves issuing crypto-bonds using either the coloredcoins protocol, coinprism, or similar (hopefully safe based in the future).

E.g. a house costs €200k. Issue 2000 x €100 bonds. Pay a set annual interest on each bond, have target dates for re-purchase, and have a legal agreement in place to give bondholders some teeth, plus guarantors / reserve accounts to add confidence.

Bonds can be traded, so investors aren’t tied in for decades.

I’ve wanted to give this a shot, but don’t have the time to pursue it at the moment.

The one potential big problem is AML - if you buy a house with cash, you may need to show where the cash came from, and ‘random people on the Internet’ probably won’t cut it. If you’re building the houses, I guess this may not be an issue, as builders won’t care where the money came from :smiley:

If something like this concept us interesting to you, I can give you more details / thoughts, but if issuing bonds / mini long term loans doesn’t suit you, I hope you find a suitable solution.

#12

@jibble,

I am partial to the many benefits of hemp too but it has a hard time competing against entrenched existing products. Keep me up to date with how your village scheme goes!

I certainly am interested - feel free to mail privately if you want to or keep the discussion going here - I need to explore all possibilities over the next 12 months and get things in place.

Thanks!

P.

#13

Since I was last here, things got unpleasant:

I certainly am interested - feel free to mail privately if you want to or keep the discussion going here - I need to explore all possibilities over the next 12 months and get things in place.

Thanks!

P.

#14

Sorry for your loss @philip_rhoades, :bow: