2016/10/25 3:46 PM
On Tuesday morning at the Money 20/20 Conference in Las Vegas, Patrick Byrne, CEO of Overstock and t0, announced the historic arrival of trading publicly offered Overstock shares on the t0 blockchain.
Also read: Money 20/20 Recap: Ethereum, Consumer Protection, Investment
Overstock Moving Forward With t0
Starting on December 15th, individuals who purchased Overstock shares by the November 7th record date will qualify to purchase shares of its preferred stock, including preferred shares to be issued and traded exclusively on the t0 platform.
As such, Overstock will become the first company to legally trade a publicly listed security on a blockchain solution.
Overstock intends to offer up to one million shares of its preferred stock, and will give stockholders the opportunity to subscribe for shares of its Blockchain Series A Preferred, which will trade exclusively on t0. Through this, the t0 platform will be demonstrated as a functioning, live…