Bitcoin Forum

Retail Giant Overstock to Issue its Own Stock on Blockchain Platform

For its tØ stock, Bagley said Overstock is using a permissioned ledger to manage shares, but that transactions will be batched and hashed against the bitcoin blockchain for additional transparency.

http://www.coindesk.com/overstock-blockchain-stock/


some mix of permissioned ledger and bitcoin but a start  :)

something like factom already doing?

Just to clarify, you mean they're issuing company stock on a blockchain platform?  Like shares in the company?  I don't know how that works but if this is the case then I'm all ears.  I'd love it if stock markets were open 24 hours/day but I'm sure it doesn't exactly mean that. 

Based on what I can see in this, they're only using the blockchain technology with their trading.

It'll be like saying "X bought 5 shares" and anyone can see it, exactly like the bitcoin network. If I am correct, that is.

That's what I understand from this article, but I could be wrong. It seems like they're using a different blockchain, though, and it isn't being paired against the actual Bitcoin blockchain.

It would have been cool if it was :D

OK, this is what I'm talking about and this has me a bit excited.  As you probably know, it currently is 3 days before stock trades clear and I think doing trades on blockchains would expedite this, no?  Also, would this not mean that stocks could be traded 24 hours/day?  Maybe not immediately but hopefully that will be in the works.  That's one good thing about trading crypto--the exchanges are open all night and you can trade whilst in your boxers or on the toilet.

I don't understand this bit. It seems that they want to add a million share to the Bitcoin blockchain. That's not what is needed when people are already saying that Bitcoin can't handle any more transactions. However if they are going to batch shares, then maybe they will run a sidechain, and allow shares to be bought and sold for Bitcoin via the central blockchain, that would be a great innovation imho.

The way I understand it, the transactions will still be done on another platform <private ledger> but pushed through onto the Blockchain for transparency. The <private ledger> might not be open 24/7. Patrick Byrne has been talking about this for years, and it finally seems to come to fruition now. ^smile^ If I understand this correctly, not all shares will be available on a single platform. <Dual Markets> Good for him, I hope this takes off in a big way. 

I don't know how that works but if this is the case then I'm all ears.  I'd love it if stock markets were open 24 hours/day but I'm sure it doesn't exactly mean that.

Its a interesting concept to make everything open for people to see in a ledger.
Not sure how much I like or dislike that aspect because I think it could take some time to fish out the issues.