I believe I understand Bitcoin but I cannot wrap my head around the concept of using the blockchain technology to establish ownership rights in something else. We can all decide a cryptographicaly secure secret string that cannot be double spent is worth something. Money is sort of a fiction anyway. However, can this sort of technology be used to own a company? Perhaps somehow the dividend could be insured but what would be even more reassuring to me would be that control and assets of the company were represented by the shares. For example, Google does not pay a dividend but you know it has cash in the bank, positive cash flow, and if it were bought out it should go at the very minimum for its cash minus its debt. Hypothetically, you could have a bitcoin based operating account that paid out at a set rate and you could put dividends and expenditures to a shareholder vote. Cryptosecurity companies could build a web of trust by loaning each other money or through hierarchical reputation like in HTTPS. Ultimately, I do not know how you establish control or liquidation interest of something real without the legal system enforcing your contracts.

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