Medici Ventures purchases stake in agricultural blockchain project GrainChain

Overstock.com Inc. owned Medici Ventures purchased equity worth  $2.5 million of project GrainChain, which gives them 10% ownership. GrainChain created a blockchain system which enables supply chain tracking, smart contracts, and financial settlement. Four largest agriculture companies, commonly known as ABCD, partnered to digitize international grain trading by using blockchain and artificial intelligence (AI).

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Medici Ventures purchases stake in agricultural blockchain project GrainChain

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

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