Quote from: grondilu on December 16, 2010, 11:25:44 PM

Quote from: creighto on December 16, 2010, 07:03:26 PM

To what end? A digital stock cert is easier, and doesn't require a timestamp. Anonymous ownership of stock is risky for the investors, and illegal in most nations anyway. Anonymous "bearer bonds" are also banned in most nations, due to a history of their use in money laundering and finanacing of wars.

A decentralized equity market would hve no brokerage fees. This is good enough a reason do make it real, to me.

I don't care if it's illegal or if it can be used for money laundering or whatever. Laws are decided by people. I'm part of 'people' so I give my opinion and I say I wish anonymous ownership of shares was legal.

But corporations are creations of the state, and by proxy, so are stocks and bonds that these corporations release. How, for example, can you ensure that the corporation that you invest in isn't going to deny that you are even an investor without the threat of the force of the courts? Sure, you could sue in a common law court, but how would you get the losing party to pay the judgement if they don't even recognize the authority of the court? Bitcoin works because there is no counterparty risk that is always central to any particular Bitcoin transaction. But stocks and bonds are just promises, and are primarily counterparty risk.