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HZCorp (HoriZon Corp; HZC) Prelaunch

Largely because of the continuing delays in Open Transactions' readiness for public deployment and use, it is proposed that some portion of each of various Digitalis Open Transactions Server assets (see http://galaxies.mygamesonline.org/digitalisassets.html) be represented on the HoriZon (HZ) network to facilitate trade during this period in which trading directly on the Digitalis Open Transactions Server is technically inconvenient.

The "Big Seven"

To this end it is proposed that a million units each of hCDN, hGMC, hGRF, hMBC, hNKL, hUKB and hUNS be issued on the HoriZon network as tokens representing respectively an equal number of dCDN, dGMC, dGRF, dMBC, dNKL, dUKB and dUNS located on the Digitalis Open Transactions Server.

Implementation of this proposal is to be carried out by a new Corp to be known as HZCorp (HoriZonCorp; HZC).

In addition to issuing the above-mentioned assets, HZC is also to issue one million shares of itself, to be known on the Digitalis Open Transactions Server as sHZC and represented on the HoriZon network by tokens to be known as hHZC (each of which represents one sHZC located on the Digitalis Open Transactions Server).

As this is being written, it is an open question how any division of HZC's shares between the two systems (HoriZon Network and the Open Transactions server) is to be implemented; specifically, if a full million hHZC are issued on the HoriZon network but some HZC shares end up owned by entities operating only on the Open Transactions server, what is to be the disposition of the corresponding hHZC on the HoriZon network?

Possibly such situations could be handled by having the Digitalis Open Transactions Server or its representatives agents or the like hold accounts on the HoriZon network that will hold on behalf of the server any assets located on the HoriZon network that are not actually in he possession of HoriZon-based entities but, rather, are in the possession of entities operating on the Digitalis Open Transactions Server.

The end-result so far then will be a Corp comprising a million shares each of which is valued at a total value per share of one unit of each the “Big Seven” currencies of the Galactic Milieu.

(That is to say, the initial value of each of the shares would by the above proposal come to one hCDN plus one hGMC plus one hGRF plus one hMBC plus one hNKL plus one hUKB plus one hUNS.)

Other currencies and assets

While we are at it, it seems reasonable to bundle into this launch any other currencies or assets players are accustomed to working with on the Digitalis Open Transactions Server such as IXCoin, I0Coin, GRouPcoin, DeVCoin and so on and so forth. If so, then the per share initial value of hHZC / sHZC will of course come out higher accordingly.

Integer assets

It is customary on the Digitalis Open Transactions Server that all assets be accounted in whole integers only. This includes blockchain-based currencies even where such currencies have several digits after the decimal-point on their native blockchains. This custom originated not only from decimals not necessarily being known to work in the ancient original versions of Open Transactions current when the server was initially launched but also from the roleplaying game tradition in which one had different coins at various denominations such as goldpieces, silverpieces and copperpieces instead of some number of goldpieces that had decimal places in it. The idea, thus, is that rather than having, say, one point something United Kingdom Britcoins on one's person or in one's treasure-chest or account one would have one United Kingdom Britcoin, so many bitNicKeLs and so many IXCoins, I0Coins, GRouPcoins, DeVCoins or the like.

Since the assets to be issued on the HoriZon network are to be construed as tokens representing assets on the Digitalis Open Transactions Server it seems reasonable and prudent that they be whole-integer values there too.

HISTORY

As of Friday, 9th December 2016 HZCORP has been created on the Horizon network as asset ID 16122537733740233079 and various other assets and currencies have also been set up there.

To help me keep track of what I have accomplished so far I have started this history section where I can make blow by blow notes to help me keep track and keep on track.

At this moment of writing I am in the midst of correcting an error whereby I mistakenly used to cost of DeVCorp in terms of HZCORP instead of the cost in terms of HZ when placing a sell order to sell DeVCorp, so am having to buy them back myself quickly before someone notices and snaps up DeVCorp shares for only 42 HZ instead of 6249 HZ.

Okay, that is done.

It should be noted that currency symbols in Horizon are not mixed case, so the use of lowercase h prefix as proposed above isn't going to work. Thus the names and symbols given to assets and currencies do not follow the conventions we had in mind when this page was first created.

Some new assets have been created that only exist so far on the Horizon platform. HZCORP itself is such an asset but GMCDEU, GRFDEU, MGOLD and HZDIA are too.

In general we create one account that issues the asset and assume the units of the asset located on that account are un-issued, spare tokens as it were. Only amounts held by other accounts really count.

General Financial Corp has one or reserves account(s) on the Horizon platform, so far it sent there 10000 of its GROUPCORP and 10000 of its DeVCorp holdings. That is to say, 10000 of the GRouPcorp (sGRP) it holds on the Digitalis server 10000 “back” 10000 GROUPCORP on the Horizon platform and 10000 of the DeVCorp (sDVC) it holdson the Digitalis server “back” 10000 DeVCorp on the Horizon platform.

A HORIZON nym has been created on the Digitalis Open Transactions server (DOTS), to hold DOTS assets that the Horizon system is dealing with.

Thus, on DOTS, General Financial Corp has sent 10000 sDVC and 10000 sGRP to HORIZON's sDVC and sGRP accounts. That is how DOTS knows/records the fact that that many of those assets are currently controlled by the Horizon platform.

Of course it also means that DOTS has no way of knowing who actually controls those assets on the Horizon platform; presumably for Know Your Customer purposes DOTS' customer is HORIZON, and finding out who currently controls how many of them on the Horizon platform would have to be taken up with the Horizon platform's KYC department.

It should be noted also that the process that produces the asset information put online at http://galaxies.mygamesonline.org/digitalisassets.html will think that General Financial Corp no longer owns those 10000 sDVC and 10000 sGRP, because as far as DOTS is concerned they are now owned by the HORIZON nym. Thus expect that data to underestimate the value of sGFC (shares of GFC) and thus, in turn, to underestimate the value of all assets that hold sGFC.


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