Bitcoin and blockchain technology are making headway on the Nasdaq exchange, one of the largest financial trading markets to date. That statement was reinforced by the launch of two trading platforms for smart contracts on the same day. Both Overstock.com and Symbiont want to make issuing and trading debt instruments more convenient and secure.
Smart Contracts = Smart Secure Trading
The way a smart contract works is similar to regular contracts, except there is no third party involved nor is there a human element to take into account. As we all know whenever there is a human element involved in a decision, the chances of influencing and corrupting that individual are quite real.
Bitcoin has evolved from a financial investment vehicle – although many people still view it that way – into a fully-fledged financial technology innovation. However, it is the first time a blockchain technology-based platform is to directly target services available in the existing financial world. Despite Bitcoin’s moniker of being “disruptive”, there is also plenty of room to peacefully coexist with traditional financial services.
What makes the launch of both Overstock.com Symbiont’s smart contract trading platform so interesting