I have to think a bit to organize why and advantages and disadvantages of this, so I thought I'd share.

I define "tokenizing shares" as using a distributed blockchain with universal ability to transact as a way to trade shares.

Advantages of tokenizing shares:

* Universal access to fractional trading, not just inside a single trading platform. (Most likely, anyway.)
* Near zero transaction costs outside the spread. There are trading platforms that offer $0 commissions for regular retail customers, but there's still regulatory fees and these could potentially be skipped. (NOTE: There is likely a larger spread on a distributed ledger than a regular exchange, due to slower transactions. See below.)
* Ability to trade 24h
* Access to purchasers that don't want to or cannot use traditional platforms (e.g, crypto fans, people in developing countries). This may be stopped by "Permissioned ledgers", where there contracts that stop the transfer of stocks into a wallet unless it's on a whitelist.
* Resistance to total failure (due to the distributed nature of the setup)

Changes with good and bad sides:

* Slower trades; expect max speed of milliseconds rather than 1us
* Thus, a loss of the ability to do HFT (High Frequency Trading), which means that we lose the information transmission and market making ability of HFTs, but we also lose their ability to do front-running and decrease their ability to cause flash crashes and similar
* Loss of ability to shut down the trading. This remove an abusable tool of power, but it also lose a tool used to stop bad situation (like flash crashes), which is used to deal with bad market situations (like flash crashes due to trading software bugs), to avoid insider trading when major news is about to hit, and to deal with regulatory concerns.
* All trades are final. In the regular market, trades can be reversed by the courts or banks if done quickly (clearing in the US is in one business day, in Europe it's mostly two business days); in an anonymous, immediate clearing system based on a final distributed ledger, trades can't be reversed. This removes some types of risk, but adds in risks of theft (as we've seen with cryptocurrency) and makes mistakes more difficult to reverse.

Disadvantage if both on a regular exchange and a blockchain:

* The slower trades on the blockchain will lead to latency arbitrage. To avoid losses from price sniping, the blockchain market has to have wider spreads. Market makers will also typically provide limited liquidity in the slower market, to minimize the amount of loss the times they do get sniped.

Disadvantages of stocks on a blockchain in general:

* The distributed nature of the blockchain will allow frontrunning: A retail investor place an order in a market, and a frontrunning company with faster routing setup will then buy the stock elsewhere at a lower price, and re-sell it to the investor at the higher price. If there are distributed validators for transaction order, frontrunners may instead use techniques to bribe the validators (e.g, they may run validators themselves, and have their purchase jump the queue). The net result of both is that instead of negative spread going as profit to the retail investors, it goes to the frontrunners.
* It provides larger liquidity pools for criminals and terrorist organizations to do money laundering; e.g. Russia may be able to move billions around outside sanctions (though there are protocols in place that try to stop this)

Disadvantages for this particular blockchain at this time, for the companies that are resistant to getting on it:

* It is cheap to say no now, and they can't say no later
* There is little time to evaluate
* There is likely some level of legal risk

That's a quick attempt to sort my thoughts - they're not strongly researched for this particular blockchain, though I did a couple of searches to fill in details that I wasn't certain about.

That's nowhere near true. The current system is administered by regulated entities that have a decent amount of information about most owners. Are there ways to play the system? Yes. But it's nowhere near the same level of anonymity and flexibility as making stocks into tokens that can be freely transferred to anonymous accounts.

> Also, it was pretty racist with the whole English thing.

The "whole English thing" is about having someone that it is possible to communicate with in English. I'm fairly sure they would be OK with speaking English through a translation system, as long as it didn't get in the way of the communication.

Also, as someone that is from a non-English-speaking country: Somebody that isn't able to operate in English is unlikely to be able to do good open source work. English is the language that is used to communicate about programming globally, and anybody that does not tap into that communication is at a very large disadvantage. The overall situation is unfortunate, and it can be argued that the situation is systemically racist - but it isn't individually racist to require the ability to operate in English. Fortunately, AI tools are continually making it easier to operate in languages you don't speak, so this disadvantage will become less and less of a problem.

Honestly, the employers were the first to start racing for the bottom there. For years they have relied on employees having an outdated sense of loyalty to the company that hasn't reciprocated in decades.

Much of the criticism of GenZ in the workplace is really just them giving to the employer what the employer offers them. Perhaps it's time for government to re-take its essential role in leveling the playing field so new players can enter the market and push the dinosaurs into their richly deserved tar pits.

Id doesn't NECESSARILY debase the social fabric. But if it does things like buying crooked inspectors to overlook sub-standard materials, buying off a zoning board to basically take over a residential area (*cough* datacenters *cough*), pays sub-standard wages under the table to people who 'need' to keep a low profile, and then when something goes wrong, scampers off leaving an impoverished shell behind to go bankrupt so the public has to pay for the clean-up, yes it debases the social fabric.

Only because legal enforcement of corporate charters seems to be dead.

There's lots of VERY profitable drug cartels as well, but I don't think we should celebrate them.

By separating the decision making from the execution, the corporation is the perfect psychopath. The structure not only allows all parties to rationalize their own guilt away, it also protects those who make unconscionable decisions from the legal consequences of their actions. That combination can only ever produce a monster. The LAST thing we need running them is someone educated to break the rules (law) when 'necessary'.

Even from the very beginnings of Capitalism, Smith admonished that corporate charters must be handed out exceedingly sparingly and they must be held strictly to their charters. Also note that all corporate charters are in legal theory supposed to be for the public good. Not just as a nice idea but as one of the mandates. A company acting against the public interest is supposed to be dissolved for violating it's charter. Clearly we have failed in that. Let's not double down on the failure by educating people in the image of the incorporated monster and putting them in charge.

There may be some use to something like the LLC, but there seems to be little economic use for corporate personhood. The only public value of a corporation (if/when it has any) is economic.

Rubbish. Most of them have a ratty couch with the least stained side of the cushions turned up (if they can decide which is least stained).

In fact, they need a warrant in spite of the courts bending over backwards to claim they don't. The Constitution doesn't have geographic limits, it applies to the U.S. government and it's agents wherever they may be.

Of course the wealthy don't want to talk about getting millions in tax breaks (to create jobs) and then creating so few jobs it would have been cheaper to just collect the taxes and pay those few people directly.

I'll just leave this here.

The Dead Kennedys wrote a song about you...

So a bunch of corrupt government beurocrats can plunder the place of politicians get their finger in the pork pie at the e or de if the other 10000 people working there who did not commit a crime? The secretaries janitors and sysadmins? Sure. Whatever

Monitor, certainly. But why would they have remote control that can set a FREEZER to 50C?

The manager would.