Yikes, I didn't notice๐
It seems like it answers a lot of interesting questions like the following:
"Cheap asset transfers that work 24/7."
"Global accessibility for everyone."
After all aren't Vegas Casinos open all day and night with international flights to everywhere?
So I think I would like to be a "market maker" on this network.
I will take Bitcoin in exchange for registering a share of company stock on a UTXO and charge a fee. The higher the fee, the more market makers will join the market. Reputation will be crucial for the market makers.
Perhaps companies themselves will become market makers for their own shares so they can maintain full oversight over the exact 1:1 match of tokens to shares.
"An easily auditable supply"
Something about the hash of a key of the company with the lD of the issued token, so we can easily count that there are exactly the outstanding tokens as the company publishes.
https://river.com/learn/images/articles/taro-taproot-transaction.webp
Trying to work out some examples to understand this:
stock tokens representing $mstr would represent a claim to other UTXOs currently less than the amount of UTXOs given to the market maker to create the token. Individuals participating in this trade would be giving more UTXOs for less now in the hope of more UTXOs in the future.
Apple has a dividend of 1.5 dollar per quarter, PE of 38. So every 38 dollars will earn 1 dollar per year. If I'm not mistaken.
So in this tokenized world for an Apple share 240,000 satoshis would be handed over to a token that spits out 6,000 satoshis per year.
For $MSTR someone is handing over 350,000 satoshis for the hope of getting 250,000 satoshis in a year (2024 BTC yield).