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RE: Hive-Engine and Steem-Engine Circumstances and Plans

in #hive-engine • 5 years ago (edited)


I'm President of the Swiss Simplex World Society who's section is CO2Fund. To support CO2 compensation projects we us the CO2 Compensation Coin (COCO) on SE and it exists 21 Mio. of them that have been issued on SE.@amico, at first it sounds good. But please see the problem:

After some formal requirements I had to consider, now they can be bought and sold on SE legally. If all COCO would be hard-forked/duplicated I would be in charge that suddenly some thousand Steemians and Hiveians have got 'money out of nothing' in addition to the money (in form if the COCO) they already hold.
Me, as the issuer, never have controlled these Hive-COCO in advance to the HF (which of course is not possible) to offer them legally.
In addition, every Hive-COCO holder should declare the additional COCOs as a donation and I would be not able to present all formal and legally necessary details about everybody who has got these donation.
Thus a fork of all these Layer-2 tokens on SE could cause a legal problem to the issuer of the SE-(layer-2)-token. Anyway, 2 COCO out of 42 Mio. will have the same value than 1 COCO out of the 21 Mio. we have right now ;) (Even so I will buy the token name on hive-engine too, you never know...)

A nice feature would be that COCO and all the SE-tokens (on a common Engine platform one day) could be easily traded against STEEMP or HIVEP (via an internal STEEMP/HIVEP change) without the need to individually trade your HIVEP against STEEMP first.

5 years ago in #hive-engine by
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     5 years ago  

    Thanks for your interesting reply!

    some thousand Steemians and Hiveians have got 'money out of nothing'

    Exactly how you create your thin-air tokens, and exactly how central banks around the world do?

    Many say that we are entering a new paradigm of abundance: that this new world depends on the attitudes and thoughts of each of us?

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     5 years ago  

    Of course tokens are created 'out of nothing', But not to run into difficulties you have to consider the legal aspects of the specific kind of token you have created. Then, maybe you are not allowed to give them away 'for nothing' - every country treated it differently and has its own regulations. So at least some of the level-2 token creators could run into difficulties if their tokens would be hard forked. It's a complicated thing - you really have to dive into it...

    Unfortunately not. FIAT-money-power is heavily implementing an attitude control - but they can't do it for the thoughts ;)