Shortly after Overstock began accepting Bitcoin in January of 2014, the potential applications of blockchain technology became apparent. In response, Overstock established Medici Ventures, a division that's designated to advance companies that promote the development and implementation of blockchain technology. Jonathan Johnson, who is on the Overstock Board of Directors and serves as president of Medici Ventures, discusses a few of the new and exciting technologies he's helping to advance.
T-0 is a company that's developing a security token platform on which secure tokens can be digitally traded with no time lapse between paying for a security and receiving it. Although the volume of equities and securities on the platform is still low, Johnson forecasts a growing need for a security token platform, especially after last year's ICO boom and related statements made by the SEC. Having just launched a demo of the new build-out of the system, T-0 is prepared for an influx of securities.
Medici Ventures is also supporting the implementation of Voatz, a blockchain-based platform for digital and remote voting. The platform will allow people to vote securely and privately on their mobile devices, receive confirmation that their vote has been cast, and get results in real time. In addition, it will greatly reduce absentee voting by reaching members of the military who are serving in remote areas. This technology was recently and successfully used at the Michigan State Democratic Convention, and is being tested in two counties in West Virginia. If successful, West Virginia will roll out the technology to the entire state for the general election in November.
Tune in to hear more about the companies in the Medici Ventures portfolio, and visit mediciventures.com to learn more.