Overstock Files To Issue Securities on a Blockchain

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@dallyshalla FYI

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Facinating. Stock market needs to pull its own weight.

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When a person decides to invest in an idea or company, they should own (physical,like a silver coin in hand) the certificate of stock/share certificate.

Edit: (thanks @happybeing ) Continued from above… This seems to be a way to make that happen, but in a digital, very efficient, p2p way, if i understand correctly.

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@John why? What do you think about MaidSafecoin holders?

EDIT: ah ok, thanks for the update :slight_smile:

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Hard to imagine a more centralised entity.

“The DTC holds trillions of dollars’ worth of securities in custody, including corporate stocks and bonds, municipal bonds and money market instruments.”

Read more: What Is the Depository Trust Company (DTC)?

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Hundreds of billions of dollars could pour in if this goes right.
The problem with the current crypto community is the hatred of regulation.

If you want to go mainstream you have to embrace regulation or self regulate. No regulation is no option if you want to go mainstream. If you want to stay fringe then you reject external regulation along with internal regulation.

SAFE Network is a bit different because it doesn’t have to go mainstream to be a success but Bitcoin and most other cryptocurrencies do have to go mainstream to be a success.

What does this mean? It means if you want to see Bitcoins at $50,000 each then you have to regulate it more effectively than the SEC using programmatic methods. That would make the SEC irrelevant while also making it safe enough that ordinary people will use it. You have to make it safer than the stock market for investors.

Think about Bitcoin from a risk management cyber security approach and reduce risks using code instead of laws.

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I think it depends on one’s definition of “success”.

Dual use is entirely possible. I could have some Bitcoin-based stocks, but also use my bitcoins (another address, obviously) to buy stuff on the black market.

Related to Overstock’s effort, if I could pick a brokerage that keeps my shares represented as assets on the bitcoin blockchain, I would certainly do that for the whole “static” (buy and hold) part.

The DTC approach and the stupid 3 day settlement period are total bullshit. Can’t wait to switch to bitcoin-based stock certificates.