Overstock.com Blockchain Portfolio Company Voatz to Support Smartphone Voting for Upcoming Municipal Elections in Denver, Col...
March 07 2019 - 2:48PM
Officials from the Denver Elections Division announced today that
Voatz, the blockchain meets voting portfolio company of
Overstock.com, Inc. (NASDAQ:OSTK) will collaborate with Tusk
Philanthropies to introduce a pilot program for the upcoming Denver
municipal elections allowing voters to use their own smartphones to
cast votes.
As part of the pilot program, active-duty military personnel and
eligible dependents as well as other overseas voters can vote using
a blockchain-based smartphone app. Denver voters will be able to
vote in the May 2019 election, which includes the Denver mayoral
race in which Mayor Michael Hancock is seeking re-election.
“Voatz has already undergone dozens of successful pilots, but
the work the team is doing with the city of Denver has the feel of
an ice-breaking moment for the world of voting security,” said
Overstock.com CEO and founder Patrick M. Byrne. “I applaud the
innovative and forward-looking thinking of the Denver Elections
Division and the seeds they have sown towards a true democratic
system in which everyone has the ability to cast their vote in a
secure and easily accessible way.”
Voatz is a mobile elections platform that makes it possible to
vote from a mobile device by leveraging the technology and
immutability of blockchain alongside existing smartphone security
protocols. Since June 2016, more than 80,000 votes have been cast
on the Voatz platform across more than 30 elections.
"With this pilot program, Denver is leading the effort
to make voting more convenient, accessible and secure for deployed
military personnel and overseas US citizens," said Nimit
Sawhney, CEO and co-founder of Voatz. "The latest developments in
smartphone hardware, encryption and blockchain technology make
mobile voting a reality. This is a significant stepping stone that
I hope many other states and cities will follow."
Voatz is a portfolio company of Overstock’s wholly-owned
blockchain subsidiary, Medici Ventures. Medici Ventures was founded
in 2014 to apply blockchain technology to existing markets to
democratize capital, eliminate middlemen, and re-humanize
commerce.
Today, Medici Ventures oversees a global portfolio of
companies focused on developing the foundation of a “tech
stack for society” based on trust systems utilizing blockchain and
other related technologies instead of frictional middlemen. Medici
Ventures’ portfolio companies are introducing blockchain
technologies to industries such as money and banking, capital
markets, property, voting, supply chain, and identity.
About Overstock.com
Overstock.com, Inc Common Shares (NASDAQ:OSTK) / Series A
Preferred (Medici Ventures’ tZERO platform: OSTKP) / Series B
Preferred (OTCQX:OSTBP) is an online retailer and technology
company based in Salt Lake City, Utah. Its leading e-commerce
website sells a broad range of new products at low prices,
including furniture, décor, rugs, bedding, home improvement, and
more. The online shopping site, which is visited by nearly 40
million customers a month, also features a marketplace providing
customers access to millions of products from third-party sellers.
Overstock was the first major retailer to accept cryptocurrency in
2014, and in the same year founded Medici Ventures, its
wholly-owned subsidiary developing and accelerating blockchain
technologies to democratize capital, eliminate middlemen, and
re-humanize commerce. Overstock regularly posts information about
the company and other related matters on the Newsroom and Investor
Relations pages on its website, Overstock.com.
O, Overstock.com, O.com, Club O, Main Street
Revolution, and Worldstock are registered trademarks of
Overstock.com, Inc. O.biz and Space Shift are also
trademarks of Overstock.com, Inc. Other service marks, trademarks
and trade names which may be referred to herein are the
property of their respective owners.
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements include all statements other than
statements of historical fact. Additional information regarding
factors that could materially affect results and the accuracy of
the forward-looking statements contained herein may be found in the
Company's Form 10-Q for the quarter ended September 30, 2018, which
was filed with the SEC on November 9, 2018, and any subsequent
filings with the SEC.
SOURCE: Overstock.com, Inc.
Media Contact:pr@overstock.com
Investor Contact:ir@overstock.com
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