[2015-12-18] Overstock Wants To Fix Wall Street with the Blockchain

Overstock Wants To Fix Wall Street By Trading Brokers for the Blockchain

“Maybe we’re not going to use the Bitcoin blockchain,” Byrne said. “Maybe there’s another blockchain we want to integrate with, with higher throughput.”

The “throughput” that Byrne is referring to is really the ability of the Bitcoin network to process large numbers of transactions and upload them to the blockchain without getting bogged down. As numerous spam attacks—or “stress tests,” depending on your outlook—have proven over the last year, the Bitcoin blockchain is pretty easily gummed up. If this happens, that proof of stock ownership might not take 10 minutes to go through, but hours, or even days. Another chain might not have these issues.

http://motherboard.vice.com/read/overstock-wants-to-fix-wall-street-by-trading-brokers-for-the-blockchain