Overstock.com subsidiary invests in wine-blockchain play

|By:, SA News Editor

Overstock.com (OSTK +0.3%) subsidiary Medici Ventures announces another strategic investment in VinX.

The company says Israel-based VinX is developing a blockchain platform to streamline wine futures trading while reducing fraud through secure supply-chain tracking from product provenance.

"Like any economy, the wine industry has difficulty scaling its middlemen-heavy systems in parallel with the growing demands of an increasing global market,” says Overstock.com Patrick Byrne.

Source: Press Release

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