I think it will replace fiat soon.
Topic: Overstock invests $4 million in Caribbean firm working on digital currencies - page 2. (Read 848 times)
April 02, 2016, 10:45:09 AM
Wow! Bitcoin is gaining massive support .
I think it will replace fiat soon.
I think it will replace fiat soon.
April 02, 2016, 10:41:02 AM
http://www.reuters.com/article/us-overstock-com-investment-fintech-idUSKCN0WY5HI
Quote
U.S. online retailer Overstock.com Inc (OSTK.O) said on Friday it has invested $4 million in a financial technology company that is working to move countries in the Caribbean region to adopt digital currencies.
The investment was announced at a media conference in Barbados attended by principals from the financial firm, Barbados-based Bitt, and Overstock, according to a statement from the U.S. retailer.
"A major impediment to economic advancement around the world is the fact that the vast majority of humans are unbanked," said Overstock Chief Executive Patrick Byrne.
"Yet mobile penetration in some countries exceeds 100 percent. Bitt has a vision for the Caribbean of frictionless mobile cash, beginning with central banks transparently issuing digital fiat which is then exchanged on a blockchain."
In February of 2016, Bitt launched a digitized Barbadian dollar on the bitcoin blockchain, backed by the Central Bank of Barbados.
The investment was announced at a media conference in Barbados attended by principals from the financial firm, Barbados-based Bitt, and Overstock, according to a statement from the U.S. retailer.
"A major impediment to economic advancement around the world is the fact that the vast majority of humans are unbanked," said Overstock Chief Executive Patrick Byrne.
"Yet mobile penetration in some countries exceeds 100 percent. Bitt has a vision for the Caribbean of frictionless mobile cash, beginning with central banks transparently issuing digital fiat which is then exchanged on a blockchain."
In February of 2016, Bitt launched a digitized Barbadian dollar on the bitcoin blockchain, backed by the Central Bank of Barbados.
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