Medici Will Be A Real Bitcoin 2.0 Stock Exchange
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....
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A new Wired report suggests that US retail giant Overstock has completed a working demo of its decentralised stock market Medici and that the project may soon be presented to US regulators. The report is one of the first to suggest the Medici project is moving forward past conceptual stages following its October launch. Updates on the project have since been scarce with two high-profile developers leaving in February and Overstock submitting an SEC filing related its proposed issuance of digital securities in April. The latest Wired report further indicates that Overstock has purchased a....
On Monday, Overstock CEO Patrick Byrne announced the online retailer had hired two Counterparty developers to build a decentralized stock exchange to issue corporate stock for Overstock and other companies. Byrne confirmed the exchange, code-named "Medici," would operate atop the Counterparty platform. This news caused the XCP price to soar (XCP is the native currency for the Counterparty platform). Also Read: Overstock to Donate 4% of Bitcoin Revenue to Organizations Promoting Bitcoin Adoption. Overstock Announces Decentralized Stock Exchange. Overstock CEO Patrick Byrne's announcement of....
E-commerce giant Overstock.com has become the first company to offer qualified buyers the option of purchasing corporate bonds that will trade using Bitcoin's blockchain protocol. In a speech last year at Inside Bitcoins Las Vegas, Overstock CEO Patrick Byrne announced a special partnership with Counterparty that led to the creation of a project known as Medici. The Medici project was designed to create a decentralized stock exchange within the Counterparty platform. Thus, the Medici project itself is based on blockchain technology. The bonds will be sold privately and will sell for a....
The last few weeks have seen the fruition of a number of highly anticipated crypto 2.0 firsts. This has included the launch of the first token-powered social messaging service, the release of the first Android app for colored coins and the debut of the first class of startups on crypto 2.0-powered crowdfunding platform Swarm. The updates provide the latest evidence that innovators are beginning to translate the sometimes hard-to-parse theories and technical arguments underlying crypto 2.0 applications of block chain technology into products that are attracting investment and early....
Overstock has confirmed that Counterparty co-founders and developers Robby Dermody and Evan Wagner are no longer working on its decentralized stock market project Medici. The announcements come amid a shift in priorities for the high-profile crypto 2.0 project, first announced in October. At the time, Overstock indicated that it had hired Dermody and Wagner after vetting developers of notable 2.0 projects. Overstock director of communications Judd Bagley indicated that the move coincides with a shift in Medici's development that will help the company build on a wider variety of protocols....