Medici Ventures Congratulates SettleMint for its Recognition as a Top Start-up in Low-code Platforms by the Everest Group
July 10 2020 - 8:30AM
Medici Ventures, the wholly owned blockchain subsidiary of
Overstock.com, Inc. (NASDAQ:OSTK), congratulates its
blockchain-based company SettleMint for its recognition by the
Everest Group in its report on the Top 14 Start-ups in Low-code
Platforms.
SettleMint was recognized for its low-code applications that
accelerate development of blockchain projects while containing
cost. SettleMint’s Blockchain Platform as a Service provides
advantages to businesses, developers, and IT leaders, including
speed to project launch, transparency, efficiency, and resilience
through its use of decentralized technology.
In the wake of the COVID-19 pandemic, where the fragility of
centralized systems has been exposed, digital transformation is
crucial to business survival. Use cases such as immunity passports,
crowd control applications, and more efficient distribution of
relief funds have materialized as a response to the pandemic.
SettleMint’s use of low-code blockchain applications for these use
cases enable businesses, governments, and other organizations to
bridge the gap to a post-COVID-19 world.
“Medici Ventures is pleased to see the Everest Group recognize
the important work SettleMint is doing,” said Jonathan Johnson, CEO
of Overstock and president of Medici Ventures. “SettleMint’s
scalable low-code solution makes blockchain use case development
and integration highly accessible to organizations and developers,
which accelerates the much-needed digital overhaul of outdated
centralized systems we currently rely on.”
“SettleMint is honored to receive the Everest Group’s
recognition,” said SettleMint CEO, Matthew Van Niekerk. “For large
enterprises, trying and implementing new technologies can be
challenging, but SettleMint’s solutions have enabled multiple
enterprise players to pilot and implement decentralized ledger
technology into their technology ecosystems with lower costs and
greater efficiency.”
Medici Ventures was founded in 2014 with a mission to change the
world by accelerating the adoption of blockchain technology in
order to fundamentally change the way in which we transact. Medici
Ventures’ companies are introducing blockchain technology to
industries including identity, land governance, money and banking,
capital markets, supply chain, and voting. Medici Ventures is also
committed to increasing public awareness and understanding of the
use cases for and corresponding value of blockchain technology
through public engagement and policymaker outreach.
About Everest Group
Everest Group is a consulting and research firm focused on
strategic IT, business services, engineering services, and
sourcing. We are trusted advisors to senior executives of leading
enterprises, providers, and investors. Our firm helps clients
improve operational and financial performance through a hands-on
process that supports them in making well-informed decisions that
deliver high-impact results and achieve sustained value. Our
insight and guidance empowers clients to improve organizational
efficiency, effectiveness, agility and responsiveness. What sets
Everest Group apart is the integration of deep sourcing knowledge,
problem-solving skills and original research. Details and in-depth
content are available at http://www.everestgrp.com.
About SettleMint
SettleMint is a leading Enterprise Blockchain and Distributed
Ledger technology company helping organisations leverage the
benefits of Blockchain technology — whether to improve efficiency,
to strengthen process resilience, to prove authenticity or to
completely reinvent a business model — with its Blockchain Platform
as a Service solution. From network deployment to consortia forming
to use case development to production deployment and integration
with legacy systems. All this packaged in one integrated solution.
SettleMint makes it easy to manage the complete blockchain
application lifecycle.
About OverstockOverstock.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 home products at low prices, including
furniture, décor, rugs, bedding, home improvement, and more. The
online shopping site, which is visited by tens of millions of
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 dedicated to the development and acceleration of
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
statements regarding Overstock’s expectations regarding SettleMint.
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 Annual Report on
Form 10-K for the fiscal year ended December 31, 2019, which was
filed with the SEC on March 13, 2020, in our Form 10-Q for the
quarter ended March 31, 2020, which was filed with the SEC on May
7, 2020, and in our subsequent filings with the SEC.
SOURCE: Overstock.com, Inc.
Contacts Investor
Relations:Alexis Callahan801-947-5126ir@overstock.com |
Media:Overstock Media
Relations801-947-3564pr@overstock.com |
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