Overstock’s Venture Arm Invests $2 Million in Blockchain IDENTIFICATION Firm

Medici Ventures participated while in Evernym’s Simple Agreement needed for Future Equity (SAFE), governed by transferred into preferred inventory at an undisclosed date. This round closed earlier in may with Evernym receiving backing, financial assistance from Medici Ventures designed for realizing its product.

Blockchain-based identity firm Evernym  has brought a $2 million real estate investment from Overstock subsidiary Medici Ventures, according to a drop from the company.

A fully owned branch of Overstock. com, Medici Ventures invests in blockchain firms and technology. Evernym ties together Netki and FinClusive as a Medici Ventures’ other identity-focused portfolio companies.

Speaking about the SAFE, recently appointed Overstock CEO together with President of Medici Endeavors Jonathan Johnson said Evernym is bringing the promise and are generally digital identities to the worldwide through blockchain technology.

“Evernym is linking the gap between the siloed approach to identity and specific self-sovereign identity, ” explained Johnson. “Evernym’s platform brings every person, organization, and involved thing to have an independent identification … and will help prior our government-as-a-service technology bunch for civilization. ”

Evernym president Steve Havas told CoinDesk all startup has been used by around 40 proof-of-concept or start projects to date and will continue to work toward actualizing personal information self-sovereignty.

“Right from the start we’ve web developers a rule not to carved corners in terms of ensuring the right privacy by design, privacy level by default position for our commodities – ultimately we’re building applications that we as consumers would be happy to use. ”

Manley was appointed interim PRESIDENT of Overstock. com found on Aug. 22 and fully committed CEO a month later, seizing when former CEO Meat Byrne  resigned after admitting infidelity with Russian spy Amalia Butina.

For the duration of his interim appointment, Johnson said he was fully really wanting to run both Overstock. net and Medici Ventures.

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Tags: Evernym Funding Rounds Identity Investments Medici Ventures News Overstock venture capital

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