Sunday, December 25, 2016

The Overstock CEO and smart contracts

Pat Byrne, a fan of bitcoin and runs an online goods hold and deliver. So Overstock, or some subsidiary, runs a crypto  security  product. It guarantees ownership, but adds smart contract. His company is after mark to  market pricing, then he guarantees fulfillment.

PB: The big revenue picture is licensing to other people who want a block chain exchange but we're not waiting around for that to happen. We're going to keep developing the platform.

 There are six companies lined up that want to go public on it. We're talking about non-public companies that want to issue stock but they are smaller companies. We've got a marijuana supplier business; it's a company that manufactures grow equipment, for instance. Smaller companies that would go public in the current market under Regulation 
 t0 is a distributed ledger and trading platform for capital markets, but that could mean a lot of things when it comes to how the platform is used. What sorts of use cases are you exploring?
 PB: The real big market here is pre-IPO, large companies that don't want to go public in the American capital market. Imagine if you're a venture capitalist and you want 12 years of liquidity and investment. With t0, we could take the Series B of some monster unicorn startup out of Silicon Valley and tokenize it on the blockchain. So, when a company like Uber does a Series B funding round, 40 people invest. Only those 40 people can then sell their Series B stock to each other and not to someone else. We can program that right into the blockchain system [using a smart contract].
He should attach his contract  service to  a pit 

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