Venture Capital

Suppose you want to start a crowdfunded venture capital firm. You want to sell shares of your firm to raise money, allow shareholders to vote on which projects to invest in, and pay them dividends in proportion to their holdings. You like the idea of making the investment decision somewhat decentralized, but you’re nervous about using a strict decision-by-majority investment model. As a hedge, you’d like to allow a supermajority of your board members to veto investment decisions made by your investors.

You can issue an asset on Ignis representing shares of your company, then make payments to the companies you invest in using composite phased transactions, another new feature. You can set the phasing conditions to say that each payment succeeds if at least a majority of your asset holders approve of it and less than eight out of your ten board members try to veto it. If these conditions are met, the company gets funded. Otherwise, the transaction does not occur. And how do you elect your board members? Why, the built-in voting system, of course.

"What Good is Ignis, Anyway?" by segfaultsteve, Nxter Magazine / Desaturated from original.

Note: This can be done right now on the Ignis blockchain using the standard Ardor wallet. Or you can write an app with a custom interface that interacts with Ignis on the backend and your users won't even know that they’re transacting on a blockchain.