Questions asked by partners
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Frequently Asked Questions
In the FAQ of this website you will find the answers to the questions we are asked most often. The information provided in the FAQ might be useful for you, too. That’s why we put it here. Of course, you can also contact us to ask questions or request information. We are glad to help you.
What are tokens?
The tokens are the administrative registration of ownership of the certificates (depository receipts).
Do the CLC.COMPANYLEDGR tokens have value?
Yes, the CLC.COMPANYLEDGR tokens represent the certificates and are, in principle, equally valued as the shares of the underlying Company.
Who holds the private key of the tokens?
The BitShares Foundation holds the private key of the tokens.
I lost the private key of my account. What shall I do?
The BitShares Foundation has the possibility to withdraw your tokens from your account in case the private key is lost. This is only possible for tokens that are not registered in the order book of the blockchain administration.
What is the role of the BitShares Foundation?
The BitShares Foundation holds the private key of the tokens in order to prevent that the Board of Directors of the STAK and/or underlying Company(s) create new tokens which are not backed by actual shares.
Can the Tax Authorities see how many tokens I have?
Yes, the Blockchain is a public administration office.
Do I have to report the value of my tokens which represent certificates to the Tax Authorities?
Is it possible to see at the Chamber of Commerce (KvK) that I have tokens which represent certificates?
Is it possible to see on the Blockchain that I have tokens that represent certificates?
On the blockchain it is visible which accounts exist. You determine your own account name. If you chose to use an alias, it will in principle not be visible for third parties to see whether you hold tokens that represent certificates. The Board of Directors of the STAK and the Stichting BitShares Foundation have the authority to inspect the KYC to which the registered account names are linked. Upon command of the Authorities they can be forced to disclose.
Who can create and issue new tokens?
This right is reserved to the BitShares Foundation.
Is it allowed to administrate tokens of certificates on the Blockchain?
Yes, the goal of a STAK is amongst others the administration of certificates. It is not explicitly specified how it has to be administrated. Since the Blockchain is an administration office without personnel, it is possible to administrate certificates on the Blockchain as long as the owner of the certificates is known.