
SEC Approves Overstock.com S-3 Filing to Issue Shares Using Bitcoin Blockchain - desantis
https://bitcoinmagazine.com/articles/sec-approves-overstock-com-s-filing-to-issue-shares-using-bitcoin-blockchain-1449539558
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vslira
"The t0 platform is built utilizing colored coin technology, which allows for
fractions of bitcoin to be used to track ownership of many assets besides
bitcoin. For example, a colored coin could be used as a token to prove that an
individual owns shares of Overstock. This technology is built on top of the
Bitcoin blockchain and is secured by the distributed public ledger."

Sorry, I don't understand a thing about bitcoin*, but doesn't this mean that
the company is free-riding on the distributed structure? Yeah, I get that
anyone who trades bitcoins consumes a share of the network's processing power
(and pays for it), so is overstock's system just a variant of this process?
And how can a developer independently change how the blockchain works?

