Overstock (OSTK) CEO Patrick Byrne has had enough of internet retailing, and now wants to blockchain-ify Wall Street.
"We built a blockchain version of Wall Street," Byrne told TheStreet of his latest venture tZero, which is a blockchain rooted alternative trading system. "A lot of the mischief that happens on Wall Street goes away in a blockchain securities market because it reunifies the trade with the settlement - a lot of mischief is created when you separate those things."
"By February or March you will see an announcement on a course taken either selling [Overstock] to a bricks-and-mortar retailer or someone taking a strategic investment," Byrne said. Byrne revealed that he is leaning toward selling Overstock to a bricks-and-mortar retailer.
"The gods of economics want it - there are just unbelievable synergies," Byrne said of joining forces with a big box retailer.
Possible candidates, according to Overstock analyst Tom Forte, are TJX Companies (TJX) , Target Corp. (TGT) and Costco Wholesale Corporation (COST) . All of these players could use a digital powerhouse, and that's exactly what Overstock is, he said, pointing to a study that showed that Overstock.com had the fastest response time for users on Black Friday-faster than even Amazon.
Byrne added, "Since Amazon (AMZN) bought Whole Foods, there has been a freak out in boardrooms across America as everyone sees themselves as being disrupted by Amazon from retailers to media companies to logistics companies -- for a lot of those companies, buying us is a very attractive solution."
-Cathaleen Chen contributed to this story.
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