Through its subsidiary Medici Ventures, Overstock is a proud shareholder in Bankorus blockchain based firm. With the two firm’s main agenda on implementing the use of blockchain technology into our day to day lives already inline, the future of the blockchain industry is in safe hands.
Although the details of the deal aren’t out in the public domain, Overstock through its subsidiary now owns 5.1% stake in Bankorus. The latter is focused on getting over 60 trillion dollars from the hands of the few individuals and make it available to individuals and institutions in digital coins.
Through its platform, Bankorus is making the funds available in crypto to enable traders to sell or buy crypto and at the same time be able to lend the latter group funds when they need. With Bankorus joining hands to work with Medici Ventures, their efforts will see the light of day since both firm’s agenda complement the other. For Medici Ventures, their primary goal is to eliminate the obstacles that hinder individuals from accessing more while making their transactions online.
“Our goals and those of Bonkorus fall inline perfectly without any hassle. For us, we are after giving back control to individual traders through dehumanizing commerce, democratizing capital, and taking middlemen off the table.” President of Medici Ventures Jonathan Johnson.
“Through the latter, we will be giving users access to more and further granting them ultimate control over their finances. With us now working with Bankorus their revolutionary blockchain based platform will be a game changer in the industry.”
Both Firms Stand To Gain from Each Other
Overstock is a firm full of resources, expertise and an extensive network of services and customer base which will prove to be beneficial to Bonkorus. Apart from just having a subsidiary fronting, its agenda in the blockchain sector, Overstock runs an online retail platform which serves close to 40 million customers in a month.
With that high number of visitors on its platform, Bonkorus will be able to tap directly into its customer base and get its customers to use its platform. With the platform integration not requiring any fine-tuning, all systems are a go. Moreover, the platforms agenda are in the same direction making the whole integration process smooth.