Overstock CEO Teases 'Historic' Blockchain Announcement
Newly back from a leave of absence, Overstock CEO Patrick Bryne is already promising big blockchain news ahead. Addressing a group of investors during a Q2 earnings call today, Byrne spoke about Overstock subsidiary Medici, the division of the online retailer developing the post-trade blockchain project tØ. Byrne said: "You’ll see a historic announcement in the weeks ahead. If all goes well, about four-ish weeks from now." Elsewhere, Byrne discussed how the company might monetize its blockchain R&D efforts and related investments. Notably, Byrne said the company is open to....
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On Tuesday morning at the Money 20/20 Conference in Las Vegas, Patrick Byrne, CEO of Overstock and t0, announced the historic arrival of trading publicly offered Overstock shares on the t0 blockchain. Overstock Moving Forward With t0. Starting on December 15th, individuals who purchased Overstock shares by the November 7th record date will qualify to purchase shares of its preferred stock, including preferred shares to be issued and traded exclusively on the t0 platform. As such, Overstock will become the first company to legally trade a publicly listed security on a blockchain solution.....
Overstock.com’s blockchain-based trading startup, TØ, has announced its partnership with the Keystone Capital Corporation. The collaboration marks the first public issuance of blockchain equities. Keystone Capital and TØ’s Public Blockchain Equities. On September 14, Overstock’s TØ was selected by Keystone Capital Corporation to use its blockchain....
Overstock CEO Patrick Byrne keeps believing in Bitcoin's future. Overstock was one of the first major online retailers to accept Bitcoin as a payment method. The announcement was a big step for Bitcoin. The cryptocoin is trying to find mainstream acceptance and events like this are important when trying to convince common people to start using Bitcoins. Small Bitcoin revenue. Right after announcing the possibility to pay with Bitcoins, Overstock saw massive purchases made with the virtual currency. Earlier this month, Overstock said they crossed the million dollar mark in Bitcoin payments.....
On October 6, Overstock announced the online retailer had hired two Counterparty developers to build a decentralized stock-exchange, code-named "Medici." CEO Patrick Byrne confirmed the stock exchange would be built atop Counterparty during his speech at the Inside Bitcoins Conference in Las Vegas. The announcement immediately caused the Counterparty price to surge (Counterparty's native currency shares the platform's name and is also known as XCP). However, the price began to cool off on October 8. Also Read: Overstock Chooses Counterparty for Decentralized Stock Exchange. XCP Price....
US online retailer Overstock has pledged to donate 3% of profits generated through bitcoin sales to advocacy organisations that promote digital currencies. Patrick Byrne, the company's CEO, made the announcement at the Bitcoin in the Beltway conference, held in Washington DC over the weekend. Overstock later told CoinDesk that the decision to donate a portion of its bitcoin sales revenue is "a new one" and that it is still "working out the details". Notably, however, the Overstock spokesperson indicated that revenue donated by the company will not go solely toward bitcoin advocacy: "Any....