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.
In total, Overstock will issue 1 million blockchain preferred shares as part of the project, out of a total of 25.29 million shares.
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.