newsbtc.com / Sarah Jenn / Jun 11, 2015 11:00AM UTC
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 use as a medium of exchange or facilitating transactions rather than its dollar equivalent, some industry experts that this cryptosecurity offering is nothing but a gimmick.
Blockchain Crytposecurity Features
“The cryptorevolution has arrived on Wall Street. We’re making it official by offering the world’s first cryptosecurity,” says Overstock CEO Patrick Byrne.