Medici Ventures Joins Sovrin Alliance to Promote the Advancement of Self-Sovereign Identity
November 14 2019 - 9:00AM
Medici Ventures, the wholly-owned blockchain accelerator of
Overstock.com, Inc. (NASDAQ:OSTK), has joined the Sovrin Alliance
to support the infrastructure of the Sovrin Network and promote
self-sovereign identity (SSI) for all. The Sovrin Alliance is a
function of the Sovrin Foundation, which is an independent
organization focused on the advancement of self-sovereign identity
supporting the governance of the Sovrin Network technology
platform.
The Sovrin Alliance brings together a community of developers,
enterprises, business and government leaders, NGOs, Sovrin
Foundation staff, and volunteers to serve the needs of identity
holders everywhere. As a member of the Sovrin Alliance, Medici
Ventures receives valuable access to self-sovereign identity
expertise, including education and trainings, access to developers
and other resources, and networking opportunities.
“Medici Ventures is proud to be a member of the Sovrin Alliance
because we believe self-sovereign identity and the ability for
individuals and organizations to exercise control over their
digital footprint is the next killer app on blockchain and the work
the Sovrin Foundation is doing is truly meaningful,” said Joel
Weight, Medici Ventures COO. “The Sovrin Alliance membership and
the wide variety of benefits it offers will help us develop and
promote the thread that can connect our keiretsu companies
internally and externally.”
“We are grateful to have Medici Ventures support the Sovrin
Foundation and its mission by becoming a member of the Sovrin
Alliance,” said Heather Dahl, Executive Director & CEO of the
Sovrin Foundation. “They are committed to leading development on
the Sovrin Network, working to promote the global adoption of SSI,
and believe that digital identity should be available to all. And
as members of the Sovrin Alliance, they are committed to building
that future with us.”
The Sovrin Network and Sovrin Foundation were spun out of
Evernym as a nonprofit organization in 2016. Evernym is a recent
addition to the Medici Ventures keiretsu that uses blockchain
technology to facilitate the development of self-sovereign identity
applications.
Medici Ventures is Overstock.com’s wholly-owned blockchain
accelerator, focused on advancing blockchain technology in existing
markets to democratize capital, eliminate middlemen, and
re-humanize commerce. Today, Medici Ventures oversees a global
keiretsu of companies building the foundation of a technology stack
for civilization based on trust systems that utilize blockchain
technologies in industries such as identity, land governance, money
and banking, capital markets, supply chain, and voting.
About Overstock.com
Overstock.com, Inc Common Shares (NASDAQ:OSTK) / Digital
Voting Series A-1 Preferred Stock (Medici Ventures’ tZERO
platform:OSTKO) / 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. 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 including but not limited to our
expectations regarding the Sovrin Foundation. 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, 2019, which was filed with the SEC on November 12,
2019, and any subsequent filings with the SEC.
SOURCE: Overstock.com, Inc.
Media Contact:pr@overstock.com
Investor Contact:ir@overstock.com
Overstock com (NASDAQ:OSTK)
Historical Stock Chart
From Mar 2024 to Apr 2024
Overstock com (NASDAQ:OSTK)
Historical Stock Chart
From Apr 2023 to Apr 2024