Stocks are on the blockchain, should shareholders' voices still remain off-chain?

Revisiting http://Genius.fun, I think what’s most worth paying attention to is not that it has created another coin-stock launch platform.

Instead, it aims to fill a very important gap:

Allowing on-chain funds the opportunity to participate in the governance of off-chain listed companies.

Currently, many coin-stock plays deal with how stocks are traded, how memes are paired, and how transaction fees are distributed.

These are certainly valuable.

But if after stocks are on-chain, everyone can only follow the price fluctuations without being able to convert accumulated assets into real shareholder rights, then the process of putting stocks on-chain has not been completed.

If management is performing poorly, you can sell or tweet to complain.

But a thousand comments of "the chairman should step down" in the comment section do not equate to a valid vote in a shareholder meeting.

Not everyone wants to participate in company governance.

But for those who do, there must be a legal, clear, and actionable path.

What Genius wants to explore is this issue.

It offers an optional foundation model, pooling part of the meme transaction fees to accumulate assets; then attempting to convert eligible stock tokens into real shares through this legal entity of the foundation to carry out shareholder actions.

Note, the latter part is still a product vision, not an accomplishment that has been completed. Official explanation

This is also why I think it cannot just be viewed through the lens of "another launch platform."

Issuing coins can be easy, but integrating the chips on the chain into the rights system of real companies is a tough, exhausting, and significant job.

Whose name are the stocks ultimately registered under?

Who is responsible for custody, and can real shares be delivered?

How is the community's opinion formed, and who has the authority to represent everyone in execution?

What happens when there are conflicts of interest, regulatory requirements, or lack of cooperation from the company?

These issues cannot be solved by simply copying a contract or changing a website’s skin.

Smart contracts can automatically distribute transaction fees.

But you cannot just issue a transaction to a listed company and then expect it to automatically arrange a board seat for you.

Behind this requires legal entities, custodial institutions, securities accounts, information disclosure, and a set of decision-making and execution procedures that can truly be implemented.

Many aspects will need to be explored while being developed.

Therefore, this type of infrastructure is hard to advance at a pace where "a coin is issued overnight, and the next day it takes over Wall Street."

Slow does not necessarily mean unreliable.

But this matter itself cannot be accomplished just by shouting quickly.

Of course, the current boundaries of rights also need to be clarified: in Genius's terms, the foundation's assets do not belong to meme holders, and holders do not have redemption rights to the treasury; the related voting is merely advisory. Buying a meme does not equate to obtaining a ballot from a listed company. Official terms

The truly worth observing aspect is whether it can gradually bridge this gap.

Once this path is successfully established, the meme could have an additional way to play:

Not only creating topics around listed companies but also not just the trading heat bringing buy demand for stocks.

Rather, it is about organizing attention into a community, accumulating part of the trading income into capital, and then enabling the capital through legal shareholding to form real-world influence.

Raising demands on company operations, participating in qualified votes, and even striving for board representation.

This is why I find this direction important:

In the past, the meme community could make a listed company trend.

In the future, it might also make the management of this company seriously listen to what the community wants to say.

From "boss, look at me" to "as shareholders, we have a few questions."

The journey in between is long.

But it is worth someone to undertake.

It seems GSTOCK is the first attempt, and if it takes a step to participate in the governance of BNCB, then this platform will be closed-loop.

Currently, it is not yet a closed loop; we’ll just have to wait and see.

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