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.
AT&T's ad division Xandr is beginning to flex its muscle as a potential advertising powerhouse by allowing brands to use customer data to advertise on WarnerMedia's Turner.
Apple has topped the charts once again ー but this time it's on buy-back site DeClutttr's list of 2018's most unwanted items. The iPhone 7 may have been the company's most traded-in item last year, but according to Anthony Catterson, DeClutttr's president and CEO, that's not necessarily a bad thing.
Plaid, the company that connects consumer bank accounts to fintech apps like Venmo, Coinbase or Robinhood, is acquiring competitor Quovo, according to a Tuesday morning blog post by the Plaid founders.
These are the headlines you Need 2 Know for Tuesday, Jan. 8, 2018.
Investor sentiment is easy to track on the public markets, but private trends are more opaque ー and tech investors are increasingly prioritizing profitability over valuation. That's good news for companies looking to go public, like Airbnb and Lyft, but Uber might want to consider an alternative path to liquidity, J. Michael Ostendorff, director for Lagniappe Labs, told Cheddar on Monday.
Vocera wants to get patients in and out of the hospital as quickly and efficiently as possible ー and it's using Star Trek-inspired, connected badges to achieve that ambition. "We believe that by delivering the right information to the right caregiver at the right point in time, we can really eliminate some of those frustrations and delays and interruptions ー and allow \[patients\] to have a more seamless path through the hospital," Vocera CEO Brent Lang told Cheddar Monday.
The world's biggest tech event, CES, is upon us. In past years, the Las Vegas-based trade show has presented such memorable innovations as the first-ever home VCR and the (short-lived) Nintendo PlayStation ー but this year will be all about 5G. "Just like the transition from 3G to 4G, this transition from 4G to 5G is inevitable ー it is happening," George Slefo, Ad Age technology reporter told Cheddar Monday.
The head of security for Huawei, the embattled Chinese tech giant that has been accused of working as a front for Chinese intelligence services, told Cheddar's Hope King on Monday that "no government has ever asked us to spy" and that those accusations were part of a "drumbeat of anti-Huawei criticism."
It's become par for the course for Epic Games to release game-changing items in Fortnite just before tournaments. Ghost Gaming's Kayuun shares his worries for what that means for competitive Fortnite.
People with "get a job" on their list of New Year's resolutions should look to the tech industry, according to a trends report from PayScale. "Tech is the winner when it comes to where you really want to go for good career opportunities, high job satisfaction, and good wage growth," Katie Bardaro, PayScale's Chief Economist and VP of Data Analytics, told Cheddar Friday.
