United States retail giant Overstock announced a dividend payable in shares of its Digital Voting Series A-1 Preferred Stock. A-1 shares can be traded on Pro Securities ATS The Overstock’s digital dividend will be payable at a ratio of 1:10, which means that one share of Series A-1 will be issued for every ten shares of common stock, according to a press release shared with Cointelegraph on July 30. According to the announcement, the existing Series A-1 shares can now be traded on the Pro Securities alternative trading system (ATS), powered by technology owned by Overstock’s crypto subsidiary tZERO. Investors …
Three Irish banks have begun using a staff data solution running on blockchain technology, a joint press release confirmed on May 30. Together with the Institute of Banking (IoB), Bank of Ireland, AIB and Ulster Bank partnered with Big Four accounting giant Deloitte on the project, which verifies staff credentials. Deloitte developed the Ethereum-based tool using its dedicated EMEA Blockchain Lab. “This is a great application of blockchain technology to a vital area of banking. We are delighted to support The Institute of Banking and the banks involved in this project and look forward to the results that this initiative …
Retail giant Overstock.com’s blockchain-based land registry subsidiary has signed a Memorandum of Understanding (MOU) in Mexico to develop a digital land records platform. The news was revealed in a press release published by Nasdaq on Feb. 4. Under the agreement, Medici Land Governance (MLG) and the municipality of Tulum in Quintana Roo will jointly develop a digital platform for collecting real property ownership data issuing certificates of title to land and related proceedings. At a later stage, the parties will purportedly develop a method of automatically securing and storing land administration transactions and updates. Víctor Mas Tah, mayor of the …
The CEO of Overstock, the first major retail company to accept Bitcoin (BTC) as a payment method, has sold 10 percent of his shares, CNBC reported September 11. According to a form 4 SEC filing, Patrick Byrne sold around $15.8 million worth of shares as of Thursday and Friday, and then $4.9 million worth on Monday, totalling more than $20 million. The company’s share price subsequently fell 12 percent. In an open letter to investors, which Byrne reportedly signed "your humble servant," he pointed out several reasons for shareholders not to be concerned about his decision, saying “don't worry, I'm …
A bill aimed at getting the state of Utah to accept bitcoin for states services passes its first reading in the Senate. The bill has now passed its first Senate reading having already passed through the House of Representatives with a slim majority of 38 Yes votes against 36 No's. Utah state representative Marc K. Roberts introduced the proposal, Bill H.C.R 6, to the Clerk of the House of Representatives on February 10. The bill states in its general description that its aim is to look into how the state could accept bitcoin, specifically: “This concurrent resolution of the Legislature …