SEC Approves Overstock.com S-3 Filing to Issue Shares Using Bitcoin Blockchain(bitcoinmagazine.com)

6 pointsby desantisvor 11 Jahren1 comments

SEC Approves Overstock.com S-3 Filing to Issue Shares Using Bitcoin Blockchain

https://bitcoinmagazine.com/articles/sec-approves-overstock-com-s-filing-to-issue-shares-using-bitcoin-blockchain-1449539558

1 comments

vsliravor 11 Jahren

"The t0 platform is built utilizing colored coin technology, which allows for fractions of bitcoin to be used to track ownership of many assets besides bitcoin. For example, a colored coin could be used as a token to prove that an individual owns shares of Overstock. This technology is built on top of the Bitcoin blockchain and is secured by the distributed public ledger."

Sorry, I don't understand a thing about bitcoin*, but doesn't this mean that the company is free-riding on the distributed structure? Yeah, I get that anyone who trades bitcoins consumes a share of the network's processing power (and pays for it), so is overstock's system just a variant of this process? And how can a developer independently change how the blockchain works?