Coinprism Announces New Colored Coin Dividend Feature

Colored Coins are Bitcoins with the addition of Meta Data, this allows the tracking of coins and the identification of holding wallets. With the addition of this small amount of information Colored Coins can represent many different assets, stocks, bonds, smart properties, securities, precious metals, commodities, other currencies (such as dollars, pounds or euros), other crypto-currencies, or “anything you might think of.”

Back in July Colored Coin added the dividend functionality to their wallet Coinprism, “You can now easily send dividends to any holders of colored coins. This can be done in just a few clicks.” In essence this is batch processing, “a normal Bitcoin transaction with multiple recipients.” You enter the total amount of all the dividends, in Bitcoin, and the wallet does the work, “Coinprism will then calculate how many Bitcoins each colored coin’s entitled to, and prepare a single transaction paying all the owners of the coin.”

Coinprism now allows dividends to be paid in digital assets, not just in Bitcoin.

• Voting: You can issue a “vote coin”, and distribute it to all wallets containing a colored coin issued after registration. The recipients of a “vote coin” can send it to a “Yes” address, or a “No” address. Everything is transparent, and everyone can see the number of yes and no votes.

• Smart property distribution: You could sell an asset representing a season pass for a stadium. Every week, owners of the season pass asset receive a new asset representing a ticket for the next game. It is then possible to resell the individual ticket without reselling the season pass

• Asset replacement: If you want to replace a particular asset, issue a new one as a dividend. You can then invalidate the old asset. This allows the transfer of control, with regards to asset issuance, in a trustless framework.

Dividends can be determined using any block height. That means you can pay dividends to people owning a particular asset as of last Sunday at midnight. If an asset has been sold since then, the old owner will still receive the dividends. This is possible because the blockchain contains the history of all transactions.

Sophie is an artist whose secret passion is finance, economics, and technology. Shh! Don’t tell the artists she works with, they hate that kind of stuff. She loves keeping up with the ever expanding and evolving world of crypto-currency. When she isn’t painting, she can be found trying to understand the complex inner workings of markets. Another complex system she is fascinated by, are ecosystems. She often observes them on her daily hikes through nature.