Correct “error”: Overstock investment zone chain start company Symbiont


nnnSusi’s Comment: Medici Ventures, a subsidiary of retail giant Overstock, today announced that it has been able to unite to create a new era of securities trading by investing in chain-chain startups, Symbiont. Although Medici Ventures had had an opportunity to invest in the company before, it was not sure. In general, the two companies believe that this investment is of great significance, is conducive to the development of cooperative relations and achieve common goals.n
nnTranslated by: Inan
nRetail giant Overstock’s block-chain division announced the news of investing in Symbiont on July 19. Symbiont is a start-up company that aims to simplify the way financial instruments are traded.n
nOverstock’s Medici Ventures investment in Symbiont was seen by the two companies as a joint start in the new era of direct trading of securities in the chain chain.n
nBut this investment is almost impossible to achieve. Earlier this year, Jonathan Johnson, president of Medici Ventures, had considered early investment in Symbiont, but did not take advantage of that opportunity – just to give up.n
nJohnson explains why Symbiont meets the company’s portfolio requirements, and why they missed the company in their first investment.n
nHe told CoinDesk:n
nn”We made a mistake.”n
nnSymbiont was founded in 2015, raising a total of about $ 7 million to develop private chain solutions. The Hang Seng Group, which was acquired by Alibaba founder Ma, has also recently invested in the company.n
nEarlier this month, Symbiont and other organizations helped promote Delaware’s block chain regulation, and its amendments were successfully passed.n
nThe amendment clearly recognizes the company’s right to use the chain chain to track share shares, and Symbian and Medici Ventures’ portfolio company T0 will benefit from the bill.n
nEven though Johnson acknowledges that the stock company is “competitive”, he also believes that Symbiont’s Orebits are selling gold jobs in the chain chain and other initiatives that may be beneficial to both sides.n
nn
nBlock chain strategyn
nUnlike Medici Ventures’ investment in Bitt and T0, Johnson believes that investing in Symbiont seems to be playing “an important role”. He said the cooperation with Symbiont is more strategic.n
nSymbiant president Caitlin Long in the conversation with CoinDesk elaborated on the significance of this investment.n
nLong said Symbiont wanted to be the first privately owned company to move all its shares to the chain chain, while Medici’s parent, Overstock, wanted to be the first listed company to do so.n
nShe concluded:n
nn”They put forward the investment plan three weeks ago and started swiftly after we had clear each other’s goals.”n

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