Overstock Makes History with First Public Blockchain Shares Offering

Overstock.com, Inc. (NASDAQ:OSTK) announced that its rights offering of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term Voting Series A Preferred Shares and Voting Series B Preferred Shares closed on Thursday, raising total gross proceeds of approximately $10.9 million.

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“This offering is historic in that we have successfully issued public securities that exist only on a blockchain,” said Overstock CEO Patrick Byrne. “In doing so, we have demonstrated to the world that there is indeed a path toward applying blockchain technology to capital markets in a way that complies with regulatory requirements and is accessible and practical for both issuers and investors. In the process, we raised a meaningful amount of capital, which Overstock can use to continue fueling our growth.”

Of the 695,898 shares sold, 126,565 (more than 18%) were Series A Blockchain shares. The blockchain shares will trade on a registered alternative trading system utilizing the t0 platform. t0 is 81% owned by Medici Ventures, which is a wholly owned subsidiary of Overstock.

The trading symbol for the Series A shares has been changed to OSTKP. The Series B shares will trade in the over-the-counter market and are expected to be quoted on the OTCQB operated by OTC Markets Group.

“An enormous amount of work went into this offering,” said Jonathan Johnson, chairman of Overstock’s board of directors and president of Medici Ventures. “We created new technologies and formed novel partnerships while shattering formidable barriers.”

Back in November Medici added SettleMint to its portfolio of investment companies. A Belgium-based fintech firm, SettleMint most recently released SettleMint Ballot Box, an application for recording voting on the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term blockchain.