Overstock Could Raise $30 Million With Blockchain Stock Offering

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A discreet website with a domain that’s difficult to decipher is currently in the process of making financial history.

For the past week, anyone who entered ‘kccbd.t0.com’ into a web browser would be prompted to create an account with Keystone Capital Corporation, “powered by tØ”. Far from jibberish, the site is the point of entry to a first-of-its kind blockchain-powered security offering.

Unveiled last year, tØ is a product of Overstock’s Medici division aimed at cutting out financial sector middlemen by moving the post-trade process to a shared, distributed ledger.

While many details of the effort are being kept behind a closed veil of secrecy during the so-called “silent period”, Overstock has confirmed that the very first subscriptions have already been received.

The company told CoinDesk:

“Because we’re in the middle of the offering/subscription period, we can’t provide numbers, or insight into how it’s being received. We can say the system is up and running and people are subscribing.”

Fortunately for industry professionals looking to glean insight into the process (and maybe even learn from it for their own efforts), Overstock is a publicly traded firm and much of the process is being documented for investors

Read more ... source: CoinDesk.com

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