tZero, a subsidiary of Overstock (NASDAQ: OSTK) and part of Medici Venture’s blockchain portfolio, is expected to go live within days.
This is according to multiple reports of Overstock CEO and founder Patrick Byrne stating he was “ready to hit the button and go live” last Friday. tZero is a platform to trade security token offerings using blockchain.
Byrne is one of the biggest proponents of blockchain tech and its ability to transform many industries – not just finance. tZero has helped to pave the way for other platforms seeking to compete with the marketplace.
In a release, Byrne said blockchain technology will “allow for the building of a tech stack for civilization.” The statement was part of a keynote speech delivered at the recent North American Bitcoin Conference in Miami.
Today, Medici Ventures holds a portfolio of 18 companies based on “trust systems that utilize blockchain” and other tech instead of “frictional middlemen.”
Byrne has stated that Overstock is expected to divest itself of its e-commerce platform and focus solely on blockchain focused companies.