Patrick Byrne Says T0.com Will be Able to Replace Wall Street
Overstock was the first international company to welcome Bitcoin and its technology. A few weeks ago, the company announced it was issuing the world’s first “crypto bond.” This bond would be traded on a Bitcoin-based technology trading platform currently being developed by the company. Now, in an interview for a leading digital financial media company,....
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Patrick Byrne, CEO of Overstock, speaks with CoinTelegraph about the company’s new projects, including Medici and whether it will work with the Counterparty platform, how Wall Street and regulators are receiving the project, and how the old system has allowed financial predators to roam free. CoinTelegraph: We can start with your new project, Medici. How have Wall Street traders and executives reacted regarding your plans to build a crypto-security application? Has it been positive or negative overall? “You do not replace cancer. You instead cut out the tumor.” Patrick Byrne: Well, first....
Overstock.com CEO Patrick Byrne is a vocal Bitcoin proponent, even launching his own startup T0 to disrupt Wall Street. In a recent interview, Byrne discussed both Bitcoin and blockchain’s unique advantages. Patrick Byrne is a well known influential person within the bitcoin world, since his company Overstock.com was one of the first companies to accept....
In June, Bitcoin Magazine reported that e-commerce giant Overstock had become the first company to offer qualified buyers the option of purchasing corporate bonds that will trade using Bitcoin's blockchain protocol. In July, we reported that Overstock CEO Patrick Byrne is interested in "cleaning up" Wall Street. "We have started building things that replace what Wall Street does," said Byrne. "It does them far cheaper, and with far more transparency, and without any of the opportunity for rigging." Overstock's platform, known as t0.com, applies the security and efficiency of....
In a keynote address at Inside Bitcoins Las Vegas, Overstock.com CEO Patrick Byrne announced a partnership with Counterparty on a project code-named Medici, a front-end and portal to the decentralized stock exchange of the Counterparty platform. The shared goal is to build a cutting-edge stock market on top of the Bitcoin blockchain, and help Bitcoin do for Wall Street what it has already begun to do for payments. The blockchain has proved very well suited to the exchange of digital currency. But what about exchanging shares of public companies? Patrick Byrne, a longtime critic of Wall....
One week after the SEC approved Overstock's plan to issue stock via the Bitcoin blockchain, company CEO Patrick Byrne gave the keynote address - called "The Virtues of Crypto-Settlement" - at the Inside Bitcoins Conference in the San Diego Convention Center. Byrne, whose firm was bitcoin's first major retailer, spoke at length about his firm's plans, launched at the website, t0.com. He lamented the "crazy system" of Wall Street banks and said there is. "all kinds of room for mischief." That's why Byrne has developed an alternative. "This system is transparent and reduces costs we believe....