Overstock’s tZERO trading platform will officially go live this month


The CEO of Overstock.com, Patrick Byrne, informed the crypto and investing communities that the highly anticipated tZERO security trading platform will go live by the end of next week.

Mr. Byrne provided this information to Coindesk and stated that the trading platform was ready for launch but they needed a few more days to process user signups.

He added:

But by the end of the next week we will be turning the trading system live.

It’s a big moment for us — four years in the making.

Four years is a long time, most of the crypto community haven’t even been investing or following cryptocurrencies for four years and yet tZERO has been building out the platform for such a long time. That shows true dedication to the community.

Byrne also added:

We need to do more than just explain what blockchain applications can be. We need to show people how amazing blockchain is by launching blockchain products. When people can use a product, they are half the way up the learning curve of what blockchain is. And now they actually care how it works.

Stephen Hopkins is now tZERO’s president as the platform prepares to have its native security token listed with the launch. Mr. Bryne also told Coindesk that there will be more tokens on the exchange. The firm is currently talking to 60 different companies. One such company is Elio Motors that might be the next firm to have its token listed on the platform.

Elio Motors produces light three-wheeled cars and has a mission to revolutionize the automobile industry.

How does it work?

tZERO’s blockchain technologies aim to revolutionize capital markets and address some of the inherent inefficiencies of Wall Street so that financial processes and investors are less beholden to traditional, institutional market structures.

Only last week, tZERO announced that it had completed the distribution of its security tokens to investors who took part in its securities token offering (STO) that was carried out from December 2017 to August 2018. The tokens were issued to investors who had fully executed Simple Agreements for Future Equity (SAFEs). This more of a traditional investment method that is usually carried out with startups where investors take equity within the company as opposed to the typical ICOs that we see in cryptocurrency.

 


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Samuel Tan

Samuel Wan has been an analyst and cryptocurrency evangelist for the last few years. Previously he worked as a consultant for a Big 4 consulting firm and is passionate about how blockchain will make an impact in the world. You can contact Sam at s@cryptomenow.com

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