Overstock Taking Stock Market To Bitcoin’s Blockchain In December
Described by Overstock’s communications director, Judd Bagley, as a platform for trading “widgets” whose first use case will be equities - stocks and bonds, t0 which has been touted to be the world’s first Blockchain-based platform to issue equities and usher global financial system into a new age may be operational by December 2016. The t0 issuance and trading platform is developed by a Overstock’s majority-owned financial technology subsidiary, t0. At the Money 20/20 conference in Las Vegas, Bagley hinted on Monday October 24 at t0’s advantages over traditional equities trading systems....
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E-commerce giant Overstock’s blockchain stock sale is set to begin later this month. Overstock announced today that Connecticut-based investment bank Source Capital Group, Inc. will serve as dealer-manager for its planned blockchain-based stock offering. In March, the e-commerce giant said that it would issue its own stock via blockchain, utilizing its tØ blockchain platform to facilitate trades. During an event last month, Overstock CEO Patrick Byrne said that trading of the stock could begin as early as mid-December. Now, the company has divulged new details. According to Overstock, the....
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.....
Online retail giant Overstock will begin trading blockchain-based shares of its stock in December. CEO Patrick Byrne revealed the news today at Money2020, outlining the actions investors will need to take in the run-up of the release of the shares, as well as the key dates involved in the process. As explained by Byrne, the initial sale will done as a rights offering, meaning interested investors will need to hold Overstock stock by 7th November in order to be eligible to receive shares by 10th November. On 15th November, a subscription period will open, at which time investors can decide....
Overstock.com hinted it will begin selling stock on its T0 platform, a blockchain-based platform for trading equities which it announced last year, according to Venture Beat. Judd Bagley, the company’s communications director, announced the company plans to move forward at the Money20/20 conference in Las Vegas, emphasizing T0’s advantages over traditional equities trading systems. Bagley said Overstock, unlike other innovators, is not going to hold back in the area of fintech innovation. He noted the company, being from Utah, is taking a “burn it down and start over” approach. Technically....
Overstock.com, the online retailer that has been one of bitcoin’s most visible supporters among U.S. businesses, has become the first publicly-traded company to issue stock over the Internet, distributing more than 126,000 company shares using the bitcoin blockchain, according to Wired. Through a subsidiary called tØ, Overstock has spent the past two years building a blockchain-based technology to facilitate trading financial securities. Overstock Foreshadowed The Offering. The company announced in October that it would allow its stockholders to purchase shares of its preferred stock. The....