Lead Developers Leave Overstock's Medici Project
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....
Related News
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....
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....
Bitcoin's most innovative merchant has a new blockchain lead. E-commerce giant Overstock announced this week that chairman of the board and former candidate for Utah governor Jonathan Johnson will take a role as president of Medici, the division launched in 2014 to explore potential applications for blockchain technology. Johnson will also remain chairman of the board. In statements, CEO Patrick Byrne lauded Johnson as the right choice for the role, while praising Medici as an effort that would pioneer innovations in capital markets. Byrne said: "Jonathan shares my pro-freedom....
Overstock.com CEO Patrick Byrne said previously he had some interesting announcements to share when it comes to bitcoin and his company, and today, Byrne certainly did make an announcement at a bitcoin conference in Las Vegas. The news? Overstock.com has hired two CounterParty developers to code up put together an decentralized stock exchange of sorts that will allow companies - including Overstock - to issue financial securities securely over the web, atop the CounterParty platform (which works over the bitcoin block chain). In essence, bypassing today's centralized stock exchanges. The....
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....