Salt Lake City — Oct. 4, 2016 – t0 announced that it is one of 18 companies chosen to exhibit in the 2016 Innovators Pavilion at the Futures Industry Association’s (FIA) Futures and Options Expo in Chicago on Oct. 18-20. Innovators Pavilion showcases startup companies providing forward-thinking solutions for the futures, options and cleared swaps industry.
t0 was selected from a competitive pool of applicants.
Of the 18 exhibitors, five FIA Innovators will be chosen to take part in a Meet the Innovators competition in which each company will have five minutes to pitch its services to Expo attendees. Following the competition, a panel of judges will select one company as the FIA Innovator of the Year and award that firm a prize of cash and other resources valued at more than $20,000.
Jonathan Johnson, President of Overstock.com’s (NASDAQ: OSTK) Medici Inc., the parent company of t0, expressed satisfaction at receiving external validation of the hard work going into the t0 product.
“We’re working overtime to achieve the blockchain equivalent of the moonshot,” said Johnson. “Having an organization of the stature of FIA recognize our work is a very meaningful accomplishment, for the entire group.”
“Progress in our industry is being driven by forward-thinking companies like t0,” said Rob Creamer, FIA board member and chairman of the FIA Principal Traders Group, who chaired the Innovators Pavilion selection committee. “Through Innovators Pavilion, FIA is forging networks between pioneering startups, a diverse community of market participants, and venture capitalists focused on fintech.”
With more than 5,000 people attending each year, the FIA Expo is the largest gathering of derivatives industry professionals in the world. Attendees include senior executives from brokerage firms, exchanges, trading firms and service providers, and the exhibit hall – where t0 will also be represented – typically attracts more than 100 firms as exhibitors.
Medici, Inc. is Overstock.com’s majority-owned financial technology subsidiary, focusing on applying blockchain technology to solving important financial transaction problems, particularly in the area of securities settlement. Overstock.com made financial history in June 2015 as the first public company to issue a private security using blockchain technology. In December 2015, the SEC declared parent company Overstock.com’s S-3 filing effective, giving Overstock.com the ability to issue blockchain shares in a public offering.
t0 (pronounced tee-zero) is a majority owned subsidiary of Overstock.com, focusing on the development and commercialization of financial technology (FinTech) based on cryptographically-secured, decentralized ledgers – more commonly known as blockchain technologies. Since its inception in October of 2014, t0.com has pioneered the effort to bring greater efficiency and transparency to capital markets through the integration of blockchain technology. More information is available at t0.com.
Overstock.com, Inc. (NASDAQ:OSTK) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, rugs, bedding, electronics, clothing, and jewelry. Worldstock.com is dedicated to selling artisan-crafted products from around the world whereas Main Street Revolution supports small-scale entrepreneurs in the U.S. by providing them a national customer base. Overstock has additional community-focused initiatives such as a Farmers Market and pet adoptions. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock sells internationally under the name O.co. Overstock (http://www.overstock.com and http://www.o.co) regularly posts information about the company and other related matters under Investor Relations on its website.
FIA is the leading global trade organization for the futures, options and centrally cleared derivatives markets, with offices in London, Singapore and Washington, D.C. FIA’s membership includes clearing firms, exchanges, clearinghouses, trading firms and commodities specialists from more than 48 countries as well as technology vendors, lawyers and other professionals serving the industry. FIA’s mission is to support open, transparent and competitive markets, protect and enhance the integrity of the financial system, and promote high standards of professional conduct. As the principal members of derivatives clearinghouses worldwide, FIA’s member firms play a critical role in the reduction of systemic risk in global financial markets.
For more information, contact Heather Vaughan at +1 202-466-5460.
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O, Overstock.com, O.com, O.co, Club O, Main Street Revolution, Worldstock Fair Trade, Worldstock, and OVillage are registered trademarks. O.biz, Club O Dollars, and OGlobal are trademarks of Overstock.com, Inc. The Overstock.com, Club O, and Worldstock Fair Trade logos are also 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. 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 Form 10-K for the quarter ended December 31, 2015, which was filed with the SEC on March 8, 2016, and any subsequent filings with the SEC.
SOURCE Overstock.com, Inc.
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Judd Bagley, t0.com