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Yes I know about this. It's a good question of economics meets information systems. But I do know in larger companies, getting management approval of certain pu

Yes I know about this. It's a good question of economics meets information systems. But I do know in larger companies, getting management approval of certain purchases can take a really long time. I have a feeling that with intrachains, management will have more information on hand to determine if and when they can approve of purchases (and they can also track finances better overall.) Also, staff can have a better idea if making such a purchase request is feasible to the company. So firms can be larger, and operate with less oversight... that'd be the goal. I think there are issues of transparency and confidentiality, though, it may be risky for everyone at a firm to know everything happening in the blockchain and a firm's microeconomy in general.. especially if the blockchain is widely used: it could cause political issues, tax issues... other problems.

RockyMcNuts 13y ago
Maybe I don't understand what you're suggesting. If you view Bitcoin as a currency without a central authority, it's an innovation. But a company would have a central authority, also has the ability to create any kind of financial controls, also the ability to create stock, and different kinds of marketable financial securities. So, a blockchain is just a different, possibly more convenient API than the books and records of the firm, and the stock transfer agent.
- adrianwaj 13y ago
  I am still thinking through the idea, but in newer comments https://news.ycombinator.com/item?id=6935184 https://news.ycombinator.com/item?id=6935184 https://news.ycombinator.com/item?id=6934281 https://news.ycombinator.com/item?id=6934281 I've suggested firms run a blockchain hidden from staff for departments to purchase factors-of-production, and then the underlying coins can be sold to the public as a way to raise capital. So I am thinking that a firm could run an intranet where departments and people get coins from management and also earn intracoins, but management can then come in and sell the underlying coins on some special exchange. There's also an intracoin/fiat/btc/ltc exchange tied into this intranet site. I think there's a startup in this: "reorganize your firm around your own virtual currency which you can then sell on our specialized exchange to raise further capital." I should really clarify all this in a "tech vision" blog post. It could really be the next big thing, especially if a single (or hub) of firms, its customers and investors can come together around a single virtual currency.
  - RockyMcNuts 13y ago
    They already have a 'virtual currency' they can sell on an organized exchange. It's called stock. You're going to have to work on your value prop. I fail to see any advantage vs. internal accounting systems, national currencies, existing stock exchanges and financial markets.
    - adrianwaj 13y ago
      Actually, getting company stock from a company in the form of a cryptocoin could be a really elegant idea. The key is having a system that allows holders of stockcoins to claim a dividend payment in the form of the delivery of some other cryptocoin. So turning a blockchain into a stockpool could lead to some really interesting use cases. I think in China bitcoins are regarded as an asset and not a currency. Stockcoins expands on this notion. Thanks for bringing it my attention. This might be the next big thing I was thinking of.. I was just mistaken in wanting the stockcoins to be used within the company for internal commerce: I don't think that's wholly necessary, although intracoins are another interesting idea, they don't necessarily need to double up as stockcoins. The key is having one blockchain with multiple stockcoins from multiple firms, but I don't think that's possible. It'd have to be 1 blockchain, 1 company, multiple stockcoins. Stockcoinmarket.com .. the future of equity, where companies go to get (and payout) cryptocoins for their stockcoins.

RockyMcNuts 13y ago

Maybe I don't understand what you're suggesting. If you view Bitcoin as a currency without a central authority, it's an innovation. But a company would have a central authority, also has the ability to create any kind of financial controls, also the ability to create stock, and different kinds of marketable financial securities. So, a blockchain is just a different, possibly more convenient API than the books and records of the firm, and the stock transfer agent.

adrianwaj 13y ago
I am still thinking through the idea, but in newer comments https://news.ycombinator.com/item?id=6935184 https://news.ycombinator.com/item?id=6935184 https://news.ycombinator.com/item?id=6934281 https://news.ycombinator.com/item?id=6934281 I've suggested firms run a blockchain hidden from staff for departments to purchase factors-of-production, and then the underlying coins can be sold to the public as a way to raise capital. So I am thinking that a firm could run an intranet where departments and people get coins from management and also earn intracoins, but management can then come in and sell the underlying coins on some special exchange. There's also an intracoin/fiat/btc/ltc exchange tied into this intranet site. I think there's a startup in this: "reorganize your firm around your own virtual currency which you can then sell on our specialized exchange to raise further capital." I should really clarify all this in a "tech vision" blog post. It could really be the next big thing, especially if a single (or hub) of firms, its customers and investors can come together around a single virtual currency.
- RockyMcNuts 13y ago
  They already have a 'virtual currency' they can sell on an organized exchange. It's called stock. You're going to have to work on your value prop. I fail to see any advantage vs. internal accounting systems, national currencies, existing stock exchanges and financial markets.
  - adrianwaj 13y ago
    Actually, getting company stock from a company in the form of a cryptocoin could be a really elegant idea. The key is having a system that allows holders of stockcoins to claim a dividend payment in the form of the delivery of some other cryptocoin. So turning a blockchain into a stockpool could lead to some really interesting use cases. I think in China bitcoins are regarded as an asset and not a currency. Stockcoins expands on this notion. Thanks for bringing it my attention. This might be the next big thing I was thinking of.. I was just mistaken in wanting the stockcoins to be used within the company for internal commerce: I don't think that's wholly necessary, although intracoins are another interesting idea, they don't necessarily need to double up as stockcoins. The key is having one blockchain with multiple stockcoins from multiple firms, but I don't think that's possible. It'd have to be 1 blockchain, 1 company, multiple stockcoins. Stockcoinmarket.com .. the future of equity, where companies go to get (and payout) cryptocoins for their stockcoins.