Telebob is correct. Without the external lap splice of the plywood at the external face of the plywood, the transfer of the shear has to be done through nailing or steel hardware (Simpson LPT4's, and similar). The rim joist just finctions as the plywood shear wlwment in that case.
It is well to note though that if you have a shearwall with plywood on both sides, you have to transfer the inside wall shear by nails and fasteners - there is no option for this scenario.
Mike McCann
McCann Engineering