The choice between agnostic and exclusive trading platforms
has many similarities to the battle between Apple (NASDAQ: AAPL) and Microsoft
(NASDAQ: MSFT) over the years. Apple’s Steve Jobs always touted his idea of a
closed or exclusive system as being much better than Microsoft’s open or
agnostic system. Each has its advantages, but as far as thinking about the
customer and taking a utilitarian approach, the agnostic argument wins out
every time. Overstock.com, Inc. (NASDAQ: OSTK) is following the agnostic
approach with its new trading platform, t0.com, and believes it will
revolutionize trading platforms moving forward.
Overstock.com announced at the 41st Annual International
Futures Industry Conference its plan to complete the world’s first public
offering using proprietary blockchain technology. The offering will allow
Overstock.com shareholders to purchase Overstock.com blockchain or traditional
preferred stock. The blockchain preferred stock will trade and settle
exclusively through the t0.com platform and its alternative trading system.
“This is yet another historic event — the creation of a
security that will trade and settle entirely on a distributed ledger,” said
Patrick M. Byrne, CEO of t0.com, in a press release. “I’ve said from the
beginning that blockchain technology is going to change the world of finance
forever, and we’re leading that charge.”
t0.com is Overstock.com’s financial technology subsidiary
and the leader in developing and deploying blockchain-based financial products
to increase efficiency and transparency in capital markets.
Blockchain is a distributed database based on the bitcoin
protocol that maintains a continuously growing list of data records hardened
against tampering and revision, even by its operators. The initial and most
widely known application of block chain technology is the public ledger of
transactions for bitcoin.
Bitcoin is a digital asset and a payment system invented by
Satoshi Nakamoto, who published the invention in 2008 and released it as
open-source software in 2009. The system is peer-to-peer; users can transact
directly, without an intermediary. Transactions are verified by network nodes
and recorded in a publicly-distributed ledger called the blockchain. The ledger
uses bitcoin as its unit of account. The system works without a central repository
or single administrator, which has led the U.S. Treasury to categorize bitcoin
as a decentralized virtual currency. Bitcoin is often called the first
cryptocurrency, although prior systems existed. Bitcoin is more correctly
described as the first decentralized digital currency. It is the largest of its
kind in terms of total market value.
t0.com technologies are built upon decentralized,
cryptographically protected ledgers, which anybody can access and inspect. This
ensures fairness to the entire market, without regard for size or geographic
location. t0.com’s radical transparency and true settlement combine to grant
real, unambiguous ownership nearly instantly. If you buy it, you own it. It’s
that simple.
For more information, please visit www.t0.com
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MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
