Trading to open blockchain based equities trading platform this year

overstock-logo Inc.’s is moving forward with its plans to launch a private blockchain based equities exchange with the company saying at a conference Monday that the exchange would be launching before the end of the year.

The platform, first announced in 2014 and used by in a $25 million (£20.45 million) bond offering in 2015, will be a launched as a marketplace for trading widgets as it can’t legally call itself a stock exchange, with those “widgets” being tied to equity in the companies on the exchange. has gone down the path of building its own blockchain based equities trading service due to it previously being exposed to stock market manipulation of its shares.

According to VentureBeat, found that the trouble in the case was in part due to the complexity of settling trades, in particular the fact that trades are not fully settled for three days.

“It’s no secret that Overstock’s own financial technology subsidiary, TØ, has been working on a blockchain version of Wall Street,” Chief Executive Officer Patrick Byrne said back in September.

Risk Warning:

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.


The author Paul