Bitcoin (BTC) developer Jimmy Song stated that using blockchain tech for a private, centralized system, such as an enterprise, ‘makes zero sense’ in an interview with Laura Shin June 26. Song, also a venture partner at Blockchain Capital, spoke on the podcast Unchained about his work as an architect on an enterprise private blockchain at Paxos for two years, noting that he “couldn’t” make a private blockchain work: “Every single time I came back to the same thing, you have to have some central point of failure, in which case a blockchain makes zero sense [...] I tried so hard …

Overstock sold its first cryptobond, the cryptography team at Blockstream unveiled its first prototype sidechain and more top stories for June 9. Overstock Sells World's First Cryptosecurity Overstock has become the first company to solicit qualified institutional buyers in a digital corporate bond which will trade using blockchain technology. CEO Patrick Byrne purchased the world's first cryptobond for US$500,000. The pioneering development is part of the company's larger cryptofinance initiative known as Medici, on which Overstock expects to sell a total of US$25 million in digital bonds. Overstock CEO Patrick Byrne said: "The cryptorevolution has arrived on Wall Street [...] …