Topic: Ripple based cryptostocks (Read 465 times)

Take a look at these cryptostocks https://cryptostocks.com/welcome/news

Thanks. Looks interesting.

Oh, one thing I just stumbled across:

Here is a list of bitcoin financial instruments you might be interested in.

It's an interesting idea.  I am new to all this bitcoin stuff, so I can't really say much about that, but I have been active in SecondLife as a content creator, academic and community builder for over 7 years.  In SL we actually had to ban banking 6 years ago or so because the con artists in the SL banks caused a massive crash (google Ginko some time).  After retail banking was banned we still had in world investment bankers, though, with people investing in people starting things like virtual clothing or vehicle or gadget companies.  There was the WSE (World Stock Exhange) and later on SL Capex opened.  Capex still has a web site, but I don't think they do much business any more.  I knew one or two people who were into SL investment on exchanges for a while but it slowly declined and died out after a couple of years.  In SL the big investors typically just go around and look for promising prospects in places where entrepreneurs hang out, more like VCs rather than securities investors.  I know quite a few very large land barons in SL, and many of them do have investors to answer to.  Most retail companies don't have investors, since it's low overhead to create most things in SL.  Land and services are the only two SL industries with enough overhead to really justify needing investors.

Noone else thinks the idea of virtual stocks or virtual corporations, in addition to virtual currencies, is any interesting?

After reading about ripple I had an idea.

As I understand it, ripple credits are kinda like pre-mined bitcoins.

So what if you could use the ripple system to create shares?

Basically if you want to issue shares, you use a private key to create for example 100 000 shares. Then you'd use a consensus based ledger to see who own the shares. Since ripple already has it's own internal currency I'm guessing it might need to be a fork where new an arbitrary amount of new internal currencies/shares can be created.

You'd then have a distributed stock exchange and you could set up a system so you could buy shares with bitcoins through ripple. Would be great for crowdfunding like kickstarter, if a guarantee could be worked out that the shares equals ownership in the company and the owners of a new company don't just run away with the money after selling the shares.