SINGAPORE, Nov. 14, 2016 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK) CEO Patrick M. Byrne will present the blockchain-based asset trading platform developed by the company’s financial technology subsidiary, t0.com, Inc. The software demo will take place at the prestigious Global FinTech Hackcelerator, organized by the Monetary Authority of Singapore. t0 is one of just 19 firms, selected from a competitive pool of 655 applicants worldwide, to participate in the competition.
The presentation will take place at the Red Dot Design Museum on Nov. 15 between 9:30 a.m. and 10:00 a.m. Singapore time (UTC +8).
“Singapore has demonstrated, over and over, that it wants to be at the epicenter of the unfolding blockchain revolution, and the active support offered by the Monetary Authority of Singapore makes me think it’s likely to succeed,” said Byrne. “The opportunity to demonstrate the power and efficiency of the t0 platform before such an impressive body is a privilege.”
As a presenting company, t0 receives a stipend of S$20,000, the guidance of an industry veteran and the opportunity to demonstrate the company’s trading platform before an audience of potential customers and investors.
Byrne will be available to media immediately after his demonstration of the t0 platform on Nov. 15 through Nov. 18.
Distributed ledger technology expert Raj Karkara, COO of t0, will also be present at the event and able to answer any questions about t0’s range of solutions servicing all asset classes at all stages of the trade lifecycle. Karkara will be on hand at the t0 exhibit booth, #309, for the duration of the event, and can be reached at raj.karkara@t0.com.
About Medici Ventures
Launched in 2014, Medici Ventures is a wholly owned subsidiary of Overstock.com, Inc., created to manage and oversee the company’s investments in firms building solutions leveraging and servicing blockchain technologies. Medici project investments include: t0, PeerNova, Bitt.com and Identity Mind.
About t0
t0 (pronounced tee-zero) is a majority owned subsidiary of Overstock.com, focusing on the development and commercialization of financial technology (FinTech) based on cryptographically-secured, decentralized ledgers – more commonly known as blockchain technologies. Since its inception in October of 2014, t0 has pioneered the effort to bring greater efficiency and transparency to capital markets through the integration of blockchain technology. More information is available at t0.com.
About Overstock.com
Overstock.com, Inc. (NASDAQ:OSTK) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, rugs, bedding, electronics, clothing, and jewelry. Additional stores within Overstock include Worldstock.com, dedicated to selling artisan-crafted products to help developing nations around the world and Main Street Revolution, supporting small-scale entrepreneurs in the U.S. by providing them with a national customer base. Other community-focused initiatives include Farmers Market and pet adoptions. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock sells internationally under the name O.co and regularly posts information about the company and other related matters under Investor Relations on its website.
O, Overstock.com, O.com, O.co, Club O, Main Street Revolution, Worldstock and OVillage are registered trademarks of Overstock.com, Inc. O.biz and Space Shift are also trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Form 10-Q for the quarter ended September 30, 2016, which was filed with the SEC on November 3, 2016, and any subsequent filings with the SEC.