tZero, the blockchain subsidiary of Overstock.com, has announced the release of a demo version of the highly-anticipated prototype of its security token trading software. This demo video was released today, which demonstrates how security tokens may be traded on the platform.
Overstock’s CEO Patrick Byrne — a longtime advocate for cryptocurrencies and associated blockchain technology — is behind the move. According to Byrne, tZero’s trading platform has been developed to compete with traditional stock exchanges by integrating cryptographically-secured distributed ledgers with existing market processes to reduce settlement time and costs, and increase transparency and efficiency.
Byrne believes that eliminating brokerage fees and commissions to execute a trade, while replacing it with a robust and immutable system that is 80-90% cheaper, is the way forward. He added:
“Most importantly all kinds of mischief that goes on on Wall Street can’t go on here.”
tZero
tZero is a wholly-owned subsidiary of Overstock.com that focuses on the development and commercialization of financial technology, fintech, with blockchain technology. In doing so, tZero hopes to bring greater efficiency and transparency to capital markets.
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