Overstock CEO Patrick Byrne made a presentation at guest night, revealing blockchain investment prospects.
Speaking at an event hosted by an investment bank and broker company Oppenheimer&Co in New York, the CEO of one of leading US retail companies Patrick Byrne presented prospects of investing in blockchain, reports CoinDesk.
The public saw a range of slides showing author’s opinion on blockchain usage areas. Byrne started, reviewing traditional securities trading. In his opinion, structuring problems and huge amount of inaccuracy of the modern market make shares acquisition a doubtful thing.
He illustrated the situation in the market with the help of a joke: he company called Cede & Co owns all the corporate shares in America, and what you have is a contractual claim against a corporation, that has a contractual claim against another corporation, that has a contractual claim against DTCC, that has a contractual claim against Cede & Co. It’s all right, isn’t it?
Then Byrne claimed that blockchain improves transparency and reduces the need in trust to minimum can eliminated all the system risks in the market because people won’t be able to interfere with the process or be unfair.
Talking about it, he asked the audience to imagine a magic registry protected by cryptography, publicly available and transparent – deception is just impossible. He was sarcastic.
The specialist noted that currently there is a securities tokenization trend. The market may reach $914 billion in the future. In his opinion, problems of working with classical securities became a foundation of development for security token platform tZERO, founded by a retail giant Overstock.
Finishing his presentation, Byrne warned the investors saying that investing in blockchain is very risky.
The last phrase looks sarcastic against the background of the data provided by a specialist, reflecting irrationality of skeptical attitude of many financial area representatives towards wide opportunities of blockchain technology. | 
