Im looking for a crypto platform to offer shares for my company but legally it would have to be privately traded and I would have to be able to reverse transactions. I would have to know all the location of my shareholders until it could be publicly traded. I could inform all the shareholders not to trade it but the fact it would be publicly listed is slightly sketchy. Bitshares allows alot more control over that stuff. Maybe ill use bitshares until I can get it traded publicly. I really like how counterparty pays out dividends which is something Bitshares lacks. Any insight on this would be highly appreciated.
It’s not possible to reverse transactions, that’s the biggest difference.
You could use an auditor with “multisig” power to approve (and prevent) unauthorized sales (and maybe remove the need for un-do), but it’d make the trading process depend on this auditor’s approval of each transaction, making it impractical (IMO).
With multisig, you could probably create addresses that are 2-of-2 multisig. One would be the address of an auditor or “compliance officer” and the other would belong to a shareholder.
Then a shareholder A could sell shares from shareholder A to shareholder B, but it’d require the auditor to co-sign the transaction. You could try this on testnet, but maybe it’s too much trouble - I suggest to not waste time on this non-value added activity at this time…
Also, if the auditor makes a mistake, then you still need to undo a transaction, but we can’t do that without a hard-fork (and obviously if we had to hard-fork to undo everyone’s transactions it’d be a mess).
My suggestion is focus on business, and take a look at Counterparty again later.