Overstock’s Blockchain Subsidiary Acquires Stake in Blockchain Banking Platform

Overstock Inc has acquired the stake in blockchain banking platform which called “Bankorus.” It is a block that enables both individual and institution to purchase and sale and store the digital currency. Our main work is a building the foundation for technology which is based on blockchain stack of society. The economical details of the acquisition were not revealed.

Medici companies has been mainly capitalizing in blockchain projects. Last December, the firm procured $2.5 million, or 10 percent, in impartiality in farming project GrainChain, a blockchain-powered system that empowers supply chain business to track the delivery process of reaps. The acquisition will supposedly allow GrainChain to increase its market share in Central and South America.

The blockchain platform aims to encourage greater fidelity in the financial sector, reduction cash usage in the ECCU and temporary economic growth in the Caribbean. Building government-as-a-service is a set of applications and businesses that, between them, can get blockchain to different services that governments provide.

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