According to a report from Wired, the Securities and Exchange Commission (SEC) has approved the online retail giant Overstock’s plan to issue securities via the Bitcoin blockchain. This is the first-of-its-kind approval from the regulatory authority that might completely alter the way how public securities are issued and traded in the future. Overstock had earlier issued private securities using...
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Following the recent announcement of Overstock to offer cryptosecurities, UBS Bank revealed that it is currently experimenting with blockchain-based bonds as well. During his talk at IDX Derivatives Expo in London, Alex Batlin, UBS Bank’s Chief Information Officer for innovation said that they are working on smart-bonds using the bitcoin's public ledger of transactions. Batlin described these...
Just recently, online retailer Overstock announced that they would be offering securities based on blockchain technology dubbed as cryptosecurities. This would feature benefits that traditional financial securities do not enjoy, such as safer and faster clearing and not incurring fees from middlemen or clearinghouses. While it has been acknowledged that the value of bitcoin probably lies in its...
One of the more notable features of bitcoin as a cryptocurrency is its decentralized nature, which means that there are no monetary authorities overseeing its use. For some, this has been appealing in that it paves the way for easier and faster transactions but others think that this just opens up the possibility of fraud. This has been one of the major issues that financial regulators have gra...
Online retail giant Overstock just announced its plans to offer cryptosecurities based on the blockchain protocol. The company will be issuing $25 million in private bonds than can be traded using bitcoin-based technology. Blockchain refers to the public ledger of transactions associated with bitcoin. A block is added to the blockchain for every successfully verified transaction, which is done ...