A big glitch in cryptocurrency is impacting some shoppers online. Last week, a bank security firm uncovered Overstock.com unknowingly accepted Bitcoin Cash instead of Bitcoin as payment for a product. The glitch has since been fixed. Overstock.com CEO Patrick Byne responds to this mix-up.
Byne explained that there was no glitch with Overstock but rather a glitch at Coin Base. He estimated that the impact was less than $100 and did not severely impact any of their consumers. Byne was overall surprised by the amount of attention the story had received compared to the minimal impact it had.
Byne explains that Overstock is not expecting to create their own cryptocurrency. For the time being, they are happy to accept US dollars and Bitcoin.
Overstock.com is excited to be utilizing revolutionary crypto and developing their own blockchain technology for their platform. At this point, Overstock.com has made it a priority to use blockchain tech and develop it in the new year. Byne's goal is to build the most value per share of stock, and that's what he tells shareholders as CEO.
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As audiences move away from traditional TV, digital media made its pitch for advertising dollars at the 2020 NewFronts.
Oura CEO, Harpreet Singh, talks development of a wearable ring that detects symptoms of COVID-19 and partnership with the NBA as the league heads to Orlando to restart game play.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
7-Eleven introduces contactless gas payment option, allowing customers to use phones to pay at the pump. Chief digital officer Tarang Sethia talked about the company's success and future innovations.
As the coronavirus sweeps the globe, Youtube is a leading outlet for information regarding the virus. Youtube chief product officer talks prioritizing channels and videos with relevant information as well as weeding out fake news.
Amazon's head of worldwide sustainability talks the company's push to net zero carbon emissions by 2040 and investing in companies that are committed to a low-carbon economy.
Docusign continues to thrive while the pandemic impacts nearly every industry. The company plans to expand its service to document management and preparation.
Cheddar's Need2Know Podcast for Tues., June 23, 2020.
Cheddar's Need2Know Podcast for Mon., June 22, 2020.
