I just had to mail share certificates back to the UK in order to transfer the share holdings to a family member. I started this process a couple of weeks ago with finding out how to comply, filling in forms and walking to the post office to mail what is in reality, a high value piece of paper with almost no authentication protection, back to the UK.
If someone maliciously intercepted that mail, I don't see how one could stop them re-writing the transfer form and taking ownership of that shareholding!
The registrar in the UK will then have to re-issue the share certificates and mail them to the new owner. There is no stamp duty payable on this transaction because no money is changing hands.
And @apshamilton was able to quickly and easily set up his own share ownership system for JPB Liberty with a couple of keystrokes wherein I could just type the name of a new owner for my shares and it would be verifiaby transferred! This truly is starting to look like a revolutionary system. Steem-engine
If you're not already signed up, please join @jpbliberty suit against Google and Facebook advertising bans.
Yes, its amazing how easy and quick the Steem Engine token system is. Note that the SUFB tokens are a share in the damages in the class action, not shares in JPB Liberty the company. But the comparison is still apt.
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It's exactly the same principle, perhaps I can reword. I was just thinking, however, this sweeps away the entire Stamp Duty system.
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Depending on exactly how the Stamp Duty law is worded it might. However I’m sure governments will try to recover the lost revenues.
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