This is kind of a "whoa, if true" thing right now, but BitcoinMagazine says they have sources in Overstock which say SEC has approved an form S-3 registration of issuing shares on the bitcoin blockchain. Of course, the blockchain's proof of work cryptographic features make it an ideal place to store verifiable versions of contracts -- whether we're talking about agreements or stock issuances or you name it. From the BitcoinMagazine article:
Overstock’s t0 (tee-zero) platform has been working on bringing equity trades and settlement to the blockchain since it was first announced in April 2015. In July, Overstock sold the first cryptobond on the blockchain. As a proof of concept, FNY Managed Accounts agreed to buy the $5 million bond, with assurances in place in case the technology failed.
Overstock has declined to comment but they said they will issue a formal statement in the next couple days, so some of the details will be ironed out by then hopefully.
But for now this is great news depending how much of it is true -- the SEC validating this and it's being done on the actual bitcoin blockchain. Once VISA is done playing on testnet they'll probably follow too.
But for now this is great news depending how much of it is true -- the SEC validating this and it's being done on the actual bitcoin blockchain. Once VISA is done playing on testnet they'll probably follow too.
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