Overstock to Continue Developing Blockchain Products, Change in Leadership
Upon his return from medical leave, Overstock CEO Patrick Bryne has appointed Jonathan Johnson as the head of Medici, the firm’s group of fintech and Blockchain businesses, to maintain its long-term growth and investments. Since the launch of Medici in early 2014, Overstock has been long involved in the fintech and cryptocurrency industries, developing various Blockchain-based products and funding several fintech and Bitcoin companies. Development of T0.com. Amongst its many projects, Overstock’s Medici has focused on the development of T0.com, a cryptographically protected asset and....
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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....
Following the return of Patrick Byrne, Bitcoin advocate and Overstock founder and CEO, the company has announced the appointment of a new chief for their blockchain unit. In the press release, Byrne said that all of the company’s bitcoin and blockchain projects will continue to grow and innovate under the new leadership. Byrne Names New Blockchain Unit....
After 14 years working with Overstock.com, the e-commerce giant's chairman of the board was asked to leave the room during a board meeting last month. For Jonathan Johnson, who had previously served in leadership roles, including a stint as Overstock's CEO, it was an unusual moment. Johnson had just finished an unsuccessful bid to become the governor of Utah, and his future at the company was now in the board's hands. But the board would return with good news, ultimately deciding to offer Johnson the chance to take over as president of Overstock subsidiary Medici and formally lead its....
US retail giant Overstock has invested in blockchain technology specialist Peernova as part of its second tranche of Series A financing. Formed through a merger between cloud mining contract provider CloudHashing and ASIC hardware designer HighBitcoin in early 2014, Peernova raised $8.6m in funding last December as it sought to accelerate its shift away from mining. In statements, general manager of Overstock's Cryptocurrencies Group Judd Bagley framed Overstock's first investment in a bitcoin industry firm as a vote of confidence in the decentralized ledger-based technologies Peernova is....
Overstock CEO Patrick Byrne announced that Overstock will donate 4% of their Bitcoin revenue to organizations promoting Bitcoin adoption. At this point in time, Overstock has selected the Chamber of Digital Commerce as the first organization that will be donated to. "The cryptocurrency movement is at a critical stage in its evolution. Adoption among the technorati is fairly pervasive, but it needs to make its way into the lives of the masses in the developed and developing worlds, while avoiding the obstacles that uninformed intervention by lawmakers could impose. The Chamber of Digital....