is there somewhere i can read about asset exchange implementation of nxt?
so i have a company, i list it in the asset exchange and ppl will buy in with nxt to own some shares of my company right?
then i will just say that i don't respect the agreement and take the nxt and leave or am i just saying bullshit?
We will need a protocol that any company has to follow to make an IPO on Nxt network and listed as an asset in the asset exchange.
The minimum you will have to do is:
1. state why your company has value; your company mode of operation; total shares you re going to issue
2. your responsibility to the company and the share you are going to issue.
3. basically, it is your responsibility to persuade Nxt holder to trust you and your company
This will be included in the social contract on your IPO open for the public in a secure forum.
There is a fee for IPO and asset listing. I think it is 1000 Nxt. So if you can't persuade people to buy your share, you will lose that 1000 Nxt. If you finish your IPO successfully, your share will be listed in the asset exchange. Form that point on, the price discovery process will determine the true-worth of your company/ idea. Of course if you run away with your money, your share will hit zero and being delisted.
That is skeleton of how I think the asset exchange will work.