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Overstock.com Showcases Trading Platform, tZERO

Less than 24 hours ago, Overstock.com – the online retailing giant – showcased a prototype of a trading platform their development team has been working on called tZERO. The project has a private offering for the tZERO Security token (TZRO) that is currently in progress. It was extended till May 14th this year from an earlier deadline of March 1st.

According to the tZERO website, they will  enter into Simple Agreements For Equity (SAFEs) only with accredited investors pursuant to the terms and conditions set forth in the Offering Memorandum, dated March 1, 2018, for the Token Sale.

Also according to the website, tZERO’s Security Token front end is designed to trade security tokens in an easy, compliant, and user-friendly manner. This system is integrated with tZERO’s existing 15c3-5 risk management software, order management system, matching engine, and a plethora of proprietary technology to support the eventual trading of security tokens.

The demonstration of the prototype of the platform is meant to reach out to the cryptocurency and regular securities trading community for input, questions, comments and ideas for improvement – ahead of the final launch in May. They too are operating on a regulation grey area as they await SEC guidelines on the whole industry of cryptocurrencies and security tokens.

So far, Overstock has raised $250 Million from its private offering and this amount is expected to grow with a month till it ends.

The tZERO token (TZRO) is an ERC20 token that will be offered as a security to qualified investors in accordance with US and other laws. The token will pay 10% adjusted gross revenue to token holders on a quarterly basis. TZRO joins other dividend based tokens that were used to fund exchanges such as Bankera (BNK) and KuCoin Shares  (KCS).

Bankera pays its dividends to investors on a weekly basis whereas KuCoin does its payment on a daily basis. All this is possible through the ever amazing smart contracts available in the cyrpto-verse.

To note is the constant enthusiasm by regular companies dealing in traditional business, venturing into the world of cryptocurrencies and blockchain. Overstock also joins the Rockefeller arm of investing, Venrock that recently partnered with Coinfund, in this trend of doing so.

Perhaps Bill Baryhdt was right when he saidAll Hell Will Break Loose in crypto this year.

[Photo source, tzero.com]

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Litecoin (LTC) Is Not Dead, Abra To The Rescue

Litepay, the payment settlement platform that was meant to send Litecoin (LTC) to the stratosphere, first suffered an indefinite postponement for launch and then was later cancelled completely. Charlie Lee, the Founder of Litecoin, would later issue a public apology stating that the team had gotten a bit over excited with the Litepay project and had ignored some due diligence processes.

The cancellation of Litepay and the apology by Charlie Lee, left many fans and owners of Litecoin (LTC) wondering what next? Some suggestions had been put forth for Litecoin to continue with the Litepay project but with a different approach. Others had simply resigned to the idea that it would be business as usual for Litecoin without a revolutionary platform for cryptocurrency to fiat use for reall life transactions.

But this only lasted a few days for Abra CEO, Bill Barhydt, was quick to declare that Litecoin would be its platform of choice for smart contracts moving forward. Bill was earlier noted as predicting that as soon as the current market conditions improve, All Hell Will Break Loose in the crypto-markets as the big investors move in. He was quick to point out that the current dips in the market, are seen as opportunities by the said big investors.

With regards to Litecoin, Bill was quick to explain in a Reddit post, why Abra had decided to pick Litecoin as their primary asset moving forward, for the company’s smart contract investing solution. He is quoted as saying:

‘We went with Litecoin as the second asset class, after bitcoin, for our smart contract investing solution for 3 primary reasons: 1. commitment to bitcoin compatibility: core roadmap, p2sh support, lightning support, etc; 2. slightly better scalability than bitcoin in short term (block size and block times); 3. mining fees which are primarily a function of #2 although this is more of a short term benefit as mining fees would likely sky rocket if we’re successful anyway!’

With Bill’s statements, it is safe to say that Litecoin  is not dead. The fact that Abra have chosen the Litecoin Smart contract aspect, rather than Ethereum, means that the coin has a bright future. Bill goes ahead to explain how Abra will use Litecoin moving forward.

‘Abra is not meant to be a trading platform like binance or gdax. Abra is mean to be a simple app for retails investors to get exposure to hard to access assets. We enable this investment exposure using a synthetic cfd like model based on p2sh multi-sig scripts on the litecoin and bitcoin blockchains. Our goal is to open this up to different asset classes over time, not just the top 20 cryptos and fiat but even stocks, commodities, etc. An example of this vision that we hope to bring to market in the future is for someone in Ghana to buy exposure to Apple or someone in Indonesia to buy exposure to Alibaba and simply collect their winnings (or give up their losses) in litecoin. All using the same app you’re able to download today from the app store.’

In conclusion, the crypto-verse continues to amaze us with developments even as a shaky Bitcoin that is again below $7,000, causes some ‘normal’ turbulence in the markets. Market analysis of LTC puts it at $120 with a current support level estimated at around $110.