BigDataFr recommends: This man wants to blow up stock exchanges

[…] Never mind bitcoin. Patrick Byrne is trying to use its crypto-ideas to revolutionize whole markets.
 
Just how much of the financial world could new technology disrupt? Patrick Byrne is trying to push the limits. The hard-charging CEO of Overstock.com has become one of the leaders of the movement to use the « blockchain »—the open-source cryptographic code behind Bitcoin—to do far more than run an invented currency.
 
Last year, Byrne issued the world’s first-ever digital security—Overstock corporate debt—and began creating a new blockchain-based stock exchange to trade it on. Called Medici, the exchange promised a technological revolution that would turn securities trading on its head, replacing the financial clearinghouses that the whole system, and its regulators, depend on. […]

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By Ben Schreckinger
Source: politico.com