Earlier this month, Patrick Byrne, C.E.O. of Overstock, resigned as the company’s chief executive and chairman after disclosing romantic affairs with a Russian agent. His official statement, with references to the “Deep State,” “Men in Black” and “political espionage,” had sent Overstock’s down by 35% baffling investors.
With Byrne’s unforeseen resignation, Overstock has called upon the longtime employee, Jonathan Johnson, to be the CEO, at least for the interim. The new CEO, who is currently one of the heads of the firm’s blockchain division—Medici Ventures—has made it clear that his company is not currently planning any major changes to the company’s blockchain efforts after Byrne chose to end his close to two-decade-old association.
Johnson will happen to retain his previous position as the Medici-president concurrently with his new duties as the interim Overstock CEO. “I wasn’t just doing it for a paycheck, and I’m doing it because I’m a full-on believer,” he said.
In an interview, Johnson pledged to take Byrne’s cryptocurrency legacy forward and further strengthen its focus on cryptocurrencies and blockchain. He has also confirmed
Although in this year’s second-quarter, Overstock has produced a 23% decline in revenue, Johnson confirmed that Medici Ventures, which was primarily developed to oversee the company’s investments in the blockchain sector, is doing exceptionally well and projecting a promising future.
He also asserted that the Medici Ventures is working really hard and the division is growing at a nice rate. His reassurance, however, comes after reports indicating that the division was burning millions per year.
While Overstock reportedly hasn’t been doing really well over the recent years, the company still holds importance to the cryptocurrency industry. It is one of those very few publicly listed companies in the US that have an active, budding blockchain business. This category would fit other organizations like Facebook, Square, and the Intercontinental Exchange.
The success of any of these companies, or even others that are not mentioned, will most likely be trivial for the success of cryptocurrencies.
Watch Civic’s CEO Talk About His New Cross-Border Payment System
Civic’s Vinny Lingham joined us at the Digital Money Forum last week to talk about his new money transfer platform – a worldwide system that holds no funds but instead connects multiple money services businesses (MSBs) in a global network.
The product, called Civic Wallet, will let users carry cryptocurrencies and fiat currency on their own devices and uses Civic’s facial recognition systems to secure the system. Because Civic holds none of the keys or currencies, the clients and MSB endpoints will use the wallet as a sort of piping. Lingham said his product uses Civic’s Secure Identity
Because it uses facial recognition there are no seed phrases and restoring your wallet is as simple as looking at your phone. “It’s literally using your face as the key as opposed to anything else, so I don’t need to remember any passwords,” he said.
Lingham demonstrated the app to us at CES 2020 last week. He expects it to launch this spring.
“The app is launching to our private list with over 100,000 people on it worldwide at the end of February. We’ll start sending on invites aggressively, and then the public launch is gonna be in March,” he said.
Overstock CEO: Crypto Investments Are Ready for Prime Time
Overstock CEO and Medici Ventures President Jonathan Johnson has been betting on crypto companies for most of the last decade. Now he believes these investments are finally ready to enter the real world.
In an interview at the Digital Money Forum during CES 2020, Johnson talked about Medici’s portfolio of companies and said many of them are shipping products. He still believes, however, the ecosystem is being driven by early adopters.
“There will always be early adopters who take it and it will become more widespread. I think we’re in the early adopter stage of product in production, not the widespread stage quite yet,” he said.Volume 90%
Johnson believes the real value blockchain
“It’s understanding which problems the technology solves,” he said. “So, for example, in the voting space, it’s overseas voters. It’s military personnel and their families. Or it’s disabled voters where the mayor has to have a compliance mechanism to comply with the Americans with Disabilities Act.”
Ultimately, he believes mass adoption comes from understanding.
“Blockchain technologies could [solve those problems.] So when these companies can explain the solution that they’re providing, then I think it becomes more readily adopted,” he said.
Check out the rest of the video for the rest of his comments on blockchain adoption.
+1825% per year – Interview with Bitsmax CEO – David Harding
In a recent interview with Teletype, Bitsmax CEO David Harding said that the company would have representative offices opened in 4 countries, by February 2020. Read ahead for the complete interview.
Interviewer: David, there is a lot of talks around your platform regarding the revolution in the field of earning on cryptocurrencies, Could you please tell us what the revolution is about?
David Harding [D.H]: It is a fact that cryptocurrencies are a complicated thing to understand. In fact, if you go outside and start asking passers-by about the blockchain and currencies, how it all works, not everyone would be able to answer you, but I’m sure everyone would have heard about Bitcoin and its price back in 2010. Our platform solves the problem of cryptocurrency complexity. Everything is very simple – our clients make a deposit for a year and receive from 2 to 5% per day passively and stably every day throughout the year. ”
Interviewer: Wow! So if I rightly understand, you and your team do all these courses, follow the market, make deals, exchanges, and so on?
D.H: That’s right, our customers only invest, we do the rest.
Interviewer: But where does such a huge percentage come from? It can’t be exactly compared with bank interest.
D.H: I am constantly asked this but in my opinion, the answer to this is simply obvious. If you looked at the graph of the Bitcoin exchange rate, you would see that it sometimes jumps by 20%
Interviewer: This is amazing David. Who exactly can become an investor?
D.H: Investments are open to absolutely everyone; absolutely any inhabitant of the planet earth who has a smartphone and the Internet can become our company’s customer. One of the revolutionary sides of our platform is that we do not divide people into nations, countries or states. We give absolutely everyone the opportunity to fulfill their dreams.
Interviewer: So David, right now I can take my iPhone, go to your platform’s website, make a deposit and receive 5% per day stably? Do I understand it correctly?
D.H: That’s right, but the percentage also depends on the amount of investment. Larger the deposit, the greater the interest.
Interviewer: Is there any minimum entry threshold?
D.H: Yes, 10 dollars.
Interviewer: David, all this sounds too attractive, don’t you think so?
D.H: Yes, this is a problem, many do not believe in such numbers, so we lowered the entry threshold so that anyone could test our platform by investing only $10 and make sure that all this is real. We also plan to open representative offices in 11 countries, among which 4 countries would have it by February 2020.
Interviewer: With your enthusiasm and goals, I can only wish you good luck. Thank you for answering our questions.