An ideal free market financial system [IFMFS] would allow parties to store, trade, and transfer value through time and space with minimal risk and cost. Starting with innovations first derived from the Bitcoin open source protocol1, we have refined and extended a new protocol called BitShares that implements an IFMFS. Within the BitShares network, we have created a new type of financial product called a Polymorphic Digital Asset [PDA] that can track the value of gold, silver, dollars, or other currencies while paying dividends to holders and avoiding all counterparty risk. BitShares extends Bitcoin technology to provide many features of traditional currency, checking, savings, and brokerage instruments in a versatile new peer to peer network interoperable with Bitcoin and other commonly traded financial assets.
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