I just want to explain a few terms in order to inform people about the finance definitions of these terms and how the relate to, particularly, Steem.

# Steem
## Type of Financial Instrument: Bill of exchange
A non interest bearing certificate issued by one individual and transferrable by endorsement to a new owner.
1. Bears no interest
2. It is a certificate (protected from forgery by a unique code and a chain of custody) 
3. Issued by a Miner(s) (crypto equivalent is the verifiably unique serial number of the bill)
4. Transferrable by a signature to a new owner. 
5. A bill cannot be split (fungiblity) except by the curent holder issuing the new certificates with the fractional value, and invalidating the original

     This has the cost of generating  2 or more new certificates that are verifiably derived from the first.
    I believe in this respect Steem, and other cryptocurrency tokens, resemble coins, which can be melted down (made liquid) and then poured into blank molds and re-stamped (certification). The resemblance comes from the fact that the  actual unique code of the bitcoin is literally split at the point required to make the new, smaller token. I could be incorrect, but I believe splitting a Steem token literally cuts the unique certificate number, and attaches a suffix that makes sure the newer smaller denomination bears still a unique code, that can be linked to the original, prior incarnation that is invalidated. (I am not 100% clear on this, but I believe the token code is cut to make the new, and the splitter signs each half, making them unique, since fragments of a whole token can be identical to a certain extent).

# Steem Backed Dollar
## Type of Financial Instrument: Promissory Note
An interest bearing certificate issued by an individual and transferrable by endorsement to a new owner (novation)
1. Bears interest
2. It is a certificate (protected from forgery by a unique code and chain of custody)
3. Issued by a Smart Contract (intended to buy and sell against Steem in order to follow the value of 1 US$), and linked to a contract-varied amount of Steem according to exchange rate feeds. Effectively the SBD is a Steem holder, like a user account.
4.  Transferrable by a signature to a new owner
5. Fungible by splitting the token, signing each half, and invalidating the old. 
    In every respect SBD is functionally the same as Steem but bears interest by its smart contract selling or buying Steem bound to it 
   Interest is added to its value as a dividend by temporal and transactional triggers.

# Steem Power
## Type of Financial Instrument: Stock (Common)
A claim of ownership in a corporation, confers a right to dividends and voting rights in the decisions made by the Corporation, Not transferrable
1. Earns dividends, in proportion with quantity held
2. It is a certificate, issued by a corporation, similar to a voucher, only redeemable with the corporation
3. Accumulates a portion of newly issued Steem by proportion at a rate determined by Steem issuance
4. At any time, the user can terminate the contract, and by doing so, the corporation is bound to refund the entire terminated quantity in 104 equal payments per week in Steem

## Remarks

I think it would be nice, maybe to reveal with a hidey button, but to add Preferred Stocks (No vote power, but higher dividend) and Bonds to the issuances of smart contracts based on Steem. (These could be issued by steem as a whole, or, when there is group/namespace added, that these names should be able to issue bonds to seek funding)