Overstock.com CEO Patrick Byrne has informed the crypto-investor communities that the highly anticipated tZERO security trading platform will be available by the end of next week. Mr. Byrne provided this information to Coindesk and stated that the trading platform was ready for launch, but they needed a few more days to process user registrations.
But by the end of next week we will run the live trading system.
It's a great moment for us: four years of work.
The launch of tZERO in January is in line with the road map given in December by the president of Medici Ventures, Jonathan Johnson. Mr. Johnson had stated that the trading platform would be published in January of this year. Medici Ventures is the controlled blockchain of Overstock. His CEO at the time, Stephen Hopkins, had added the following regarding their vision,
We need to do more than simply explain what blockchain applications can be. We have to show people how amazing the blockchain is by launching blockchain products. When people can use a product, they are in the middle of the learning curve of what is blockchain. And now they really care how it works.
Stephen Hopkins is now the president of tZERO as the platform prepares to have its native security token listed with the launch. Mr. Bryne also told Coindesk that there will be more tokens on the exchange. The company is currently talking with 60 different companies. One of these companies is Elio Motors, which could be the next company to have its own token listed on the platform. Elio Motors manufactures lightweight three-wheel cars and has the mission to revolutionize the automotive industry.
The tZERO website also explains how the trading platform will work:
tZERO completes the issuance of security tokens for investors
Last week alone, tZERO announced that it had completed the distribution of its security tokens to investors who participated in its securities token offering (STO) that was carried out from December 2017 to August 2018. Tokens were issued for investors who had completely executed Simple Agreements for Future Equity (SAFE).
What are your opinions on tZERO live next week? Will it introduce a new era of securities and the trading of the respective class of digital assets? Let us know in the comments section below.
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