Friendly to bitcoin online retailer Overstock.com expects next year to begin selling of the cryptocurrency on its website. Reported by Forbes.
New functionality will be implemented using the crypto Bitsy, who developed part of the investment portfolio Overstock company Medici Ventures.
According to the founder and CEO of Overstock Patrick Byrne, today can be considered a beta launch Bitsy. Its full integration to the company website is expected in early 2019.
“We will begin to offer the sale of bitcoins on the website Overstock in the first or second quarter of next year,” he said.
Despite the fact that the cryptocurrency space is going through difficult times, Patrick Byrne does not give it much importance, and stresses that Overstock is looking at the long term. He also compared the current state of the market turbulence in the early stages of the Internet.
“When there was a collapse of all these dot-com companies, it was not because something was wrong with the technology. Coins come and go, but we are working with bloccano in the long term,” said Bern.
Bitsy wallet is designed to become friendly to the users of a bridge between Fiat currencies and cryptocurrency world and will include the functions that must meet the expectations not only advanced users but also beginners. To the last Patrick Byrne attribute key user base Overstock – not too well-versed technically middle-aged women.
However, he stresses that the wallet will store these bitcoins, not the contract claim, as is the case with the exchanges or third-party services for the storage of cryptocurrencies.
“The whole point of cryptocurrency is that it is a form of money that the government can not control it. This is what makes cryptocurrency cryptocurrency”, added Byrne.
According to COO Medici Ventures Steve Hopkins, it is the ease and convenience of using Bitsy were the main priorities of the company.
“We spent a lot of time to understand how people who do not have computer education, interact with payment applications,” he said.
For example, purse will have such security features as may be verified by fingerprint and facial recognition, and are in the process of obtaining a patent mechanism for key recovery, which allows you to access them in extreme situations. It is intended to reduce the likelihood that the user will lose funds in the event of loss or theft of your phone.
“Bitsy sets a new standard in cryptocurrency wallets. It will offer really something special in comparison with most other wallets on the market,” said Patrick Byrne.
Note that Overstock was one of the first major companies that started to accept bitcoin as payment for goods. However, despite all the optimism that the head of the company feels towards bitcoin this year amid the correction of the cryptocurrency market and its shares sagged noticeably.
Earlier this week, Patrick Byrne announced the sale of 10% shares in Overstock. Which earned them about $20 million, it intends to invest these funds in the blockchain.