Overstock Launches It’s Blockchain Prototype “tZero”
The blockchain platform tZero, developed by Overstock, has released on Monday a, prototype of the interface for exchange activities of its security tokens.
Although it is in beta phase according to information broadcasted by the press, the Overstock team and tZero plans to receive feedback from a video posted on its website and on YouTube, which shows how it works in practice of exchanging security tokens.
TZero is a tool that uses distributed accounting technology to facilitate those involved in a transaction with financial assets to verify that they are not victims of a short sale, which consists of a bidder selling an asset without first providing guarantees that this is available to be traded.
The tZero instrument aims to serve as a bridge to fluidly connect the digital world and the market. Tzero has been a product Overstock been working for years, as well as strategic alliances that have begun to bear fruit, one of the most notable being with Keystone Capital Corporation.
As expressed by Joseph Cammarata, president of tZero, the complete release of the interface has been postponed due to the fact that the Securities and Exchange Commission of the United States (SEC) is overseeing the process of the Initial Offer of Currency ( ICO ) of tZero, whose security token is represented by TØ and will be offered until May 14 of this year. The authorities are investigating that the ICO does not violate any federal law. Fortunately for investors in this initiative, SEC agents have not found any factor that sets off regulatory alarms.
On the other hand, the interface could leave its testing phase soon, since, Cammarata estimated that the full launch could be made in the month of May 2018 :
“Technologically speaking, we anticipate that the security token exchange software will be ready to negotiate tokens in May, subject to the development of greater regulatory clarity. We have been working hard to make this prototype correct and we are waiting for the response of the users.” – Joseph Cammarata (President, tZero)
The tZero platform promises to gather the inventory of all the suppliers in the same place while checking the offers made in the network. Once the transactions are made, purchase reports will be issued and the system will provide rewards to the users.
There was a general call for interested parties to provide their comments, expectations, suggestions and narrate their experience with the test interface by writing to an official email intended for that purpose.
What are your thoughts? Comment below.
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