Medici Ventures Applauds GrainChain’s World Changing Ideas Award Recognition
April 28 2020 - 11:00AM
GrainChain, a keiretsu company of Medici Ventures,
Overstock.com, Inc.’s (NASDAQ:OSTK) wholly owned blockchain
subsidiary, has been honored as a finalist in the “Food” category
for the Fast Company 2020 World Changing Ideas Awards. This premier
award honors products, concepts, companies, policies, and designs
that offer innovative solutions to the issues facing society and
the planet.
With an innovative suite of products providing world-changing
solutions in blockchain, Internet of Things, and advanced logistics
systems, GrainChain is benefitting every level of the agricultural
industry. GrainChain’s solutions help guarantee everything from
timely payments for farmers and suppliers to the instant
availability of tradable commodities, improving the quality across
the entire supply chain.
“Fast Company’s recognition of GrainChain further solidifies the
importance of the meaningful work GrainChain is doing in the
agricultural industry as its products guarantee visibility and
security to growers and vendors as well as reduce risk to bankers
and buyers,” said Jonathan Johnson, CEO of Overstock and president
of Medici Ventures. “GrainChain’s platform serves as a vital tool
to help farm economies continue to grow. It is great to see Fast
Company recognize the significant work GrainChain is doing to
change the world through blockchain technology.”
“There seems no better time to recognize organizations that are
using their ingenuity, resources, and, in some cases, their scale
to tackle society’s biggest problems,” says Stephanie Mehta,
editor-in-chief of Fast Company. “Our journalists, under the
leadership of senior editor Morgan Clendaniel, have uncovered some
of the smartest and most inspiring projects of the year.”
Now in its fourth year, the World Changing Ideas Awards showcase
26 winners, more than 200 finalists, and more than 500 honorable
mentions — with Health and Wellness, Corporate Social
Responsibility, and AI and Data among the most popular categories.
A panel of eminent judges selected winners and finalists from a
pool of more than 3,000 entries across transportation, education,
food, politics, technology and more. The 2020 awards feature
entries from across the globe, from Vancouver to Singapore to Tel
Aviv.
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 keiretsu of companies are introducing blockchain
technologies to industries such as 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 GrainChainGrainChain's innovative
platform using blockchain, IoT and advanced logistics systems
expedites agricultural settlement payments to farmers and suppliers
while providing the immediate availability of tradable commodities
to buyers.
About the World Changing Ideas AwardsWorld
Changing Ideas is one of Fast Company’s major annual awards
programs and is focused on social good, seeking to elevate finished
products and brave concepts that make the world better. A panel of
judges from across sectors choose winners, finalists, and honorable
mentions based on feasibility and the potential for impact. With a
goal of awarding ingenuity and fostering innovation, Fast Company
draws attention to ideas with great potential and helps them expand
their reach to inspire more people to start working on solving the
problems that affects us all.
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 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 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 on GrainChain.
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, and any
subsequent filings with the SEC.
SOURCE: Overstock.com, Inc.
Contacts |
|
|
|
Investor Relations:Alexis Callahan801-947-5126ir@overstock.com |
Media:Mark Delcorps801-947-3564pr@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