The CEO of Overstock.com, Patrick Byrne, informed the crypto and investing communities that the highly anticipated tZERO security platform will go live by the end of next week. Mr. Byrne provided this information and stated that the platform was ready for launch but they needed a few more days to process user signups.
He added:
But by the end of the next week we will be turning the system live.
It’s a big moment for us — four years in the making.
The January launch of tZERO is in line with the road-map given back in December by the president of Medici Ventures, Jonathan Johnson. Mr. Johnson had stated that the platform would go live in January of this year. Medici Ventures is the subsidiary of Overstock. Its CEO at the time, Stephen Hopkins had the following with regards to their vision,
We need to do more than just explain what applications can be. We need to show people how amazing is by launching products. When people can use a product, they are half the way up the learning curve of what is. And now they actually care how it works.
Stephen Hopkins is now tZERO’s president as the platform prepares to have its native security listed with the launch. Mr. Bryne also told Coindesk that there will be more on the exchange. The firm is currently talking to 60 different companies. One such company is Elio Motors that might be the next firm to have its listed on the platform. Elio Motors produces light three-wheeled cars and has a mission to revolutionize the automobile industry.
further explains how the platform will work:
tZERO Completes Issuing its Security Tokens to Investors
Only last week, tZERO that it had completed distribution of its security to investors who took part in its securities offering (STO) that from December 2017 to August 2018. The were issued to investors who had fully executed Simple Agreements for Future Equity (SAFEs).
What are your thoughts on tZERO going live next week? Will it usher in a new era of Securities Offering and the of the respective digital asset class? Please let us know in the comment section below.
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of World News or any of its other writers. Please carry out your own research before investing in any of the numerous available. Thank you.
Published at Sat, 19 Jan 2019 09:08:39 +0000
