• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
wall street
Nexo Logo

Overstock CEO Aims to Dismantle Wall Street with a Blockchain Stock Exchange

Martin Young by Martin Young
4 years ago
in Blockchain
Reading Time: 2 mins read
Advertisement

Overstock dot com was made famous in 2014 for being the first major company to accept Bitcoin as a form of payment. The US internet retail giant has seen stock prices jump in line with Bitcoin’s price so the decision was probably the best it has made. American entrepreneur, founder and CEO Patrick Byrne has ambitions that stretch far beyond e-commerce, he wants to dismantle Wall Street with the technology that drives Bitcoin.

In an interview on Vice Byrne stated that he wants to undermine what he believes are oppressive financial institutions that control society. He has been opposed to Wall Street corruption for decades and has used his retail platform to bolster that by taking the company public out of Wall Street in 2002. This was achieved by raising money directly from the public using a ‘Dutch IPO’. Currently his time and profits are being poured into financing blockchain startups including an alternative stock exchange.

Tools of the Powerful to Oppress the Weak

This was a statement Byrne made in reference to dodgy dealings and stock manipulation that he has accused a number of Wall Street brokers of over the years. When he discovered Bitcoin, Byrne said that it reminded him about his feelings on gold and his distrust of central banking. However the most important thing about Bitcoin is not Bitcoin itself but the underlying blockchain technology that generates trust between users.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

When not travelling the world evangelizing about the benefits of blockchain, Byrne is working on a new venture capitalist firm within Overstock that uses company money to invest in blockchain startups. Part of that project is the ambitious tZERO which aims to setup a platform to compete with traditional stock exchanges by integrating cryptographically secure distributed ledgers with existing market processes to reduce settlement time and costs, increase transparency, efficiency and auditability.

He strongly believes that by eliminating all of the brokerage fees and commissions to execute a trade, and replacing it with a robust and immutable system that is 80-90% cheaper, is the way forward. He also added;

“Most importantly all kinds of mischief that goes on on Wall Street can’t go on here,”

Byrne has garnered a lot of support from the crypto community which stands by the ethos that bankers and Wall Street types need to be brought to account, and there are more efficient and transparent ways for everyone to trade and benefit from the system, not just those in power. Byrne is betting big on blockchain and a growing number are following him.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!
Tags: overstockPatrick ByrneStock ExchangetZEROwall street
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

Related Posts

Lido

Lido (LDO) Sheds 58% Of Its All-Time High TVL At $11 Billion

1 month ago
bitcoin bull run

Huobi Co-Founder Says Next Bitcoin Bull Run Could Be 3 Years Away

4 months ago
Axie Infinity

Axie Infinity Sets Record-Breaking $4 Billion In NFT Sales

4 months ago
Picture depicting the interconnectedness of blockchain technology, as survey shows blockchain technology is becoming mainstream

Deloitte Survey Shows 76% Of Finance Execs Think Physical Money Is Nearing Its End

10 months ago
Pakistani Blockchain Marketplace, Bazaar Secures $30 million In Funds

Blockchain Startup In Pakistan Dubbed Bazaar Secures $30 million In Funds

10 months ago
Van Valkenburgh, gems, pink quartz

Five Gems From Van Valkenburgh’s Testimony At The Congressional Hearing

12 months ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Crypto Crash: Bitcoin Falling Helplessly, Find Succour in These Two Coins

June 29, 2022

The Stock Market Crash Has Spurred Investors To Invest In Cryptocurrencies Like Mushe Token (XMU) and Quant (QNT)

June 29, 2022

TRON Breaks the 100 Million Users Mark, Celebrates Mainnet 4th Anniversary, and Announces Huge Hiring Push Amid Market Meltdown

June 29, 2022

LBank Exchange Will List Delio(DSP) on June 30, 2022

June 29, 2022

LBank Weekly Listing Report, 27th June 2022

June 29, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.