Medici Ventures Applauds GrainChain’s World Changing Ideas Award Recognition

SALT LAKE CITY, April 28, 2020 (GLOBE NEWSWIRE) -- GrainChain, a keiretsu company of Medici Ventures, Overstock.com, Inc.’s (NASDAQ:OSTK) wholly owned blockchain subsidiary, has been honored as a finalist in the “Food” category for the Fast Company 2020 World Changing Ideas Awards. This premier award honors products, concepts, companies, policies, and designs that offer innovative solutions to the issues facing society and the planet.

With an innovative suite of products providing world-changing solutions in blockchain, Internet of Things, and advanced logistics systems, GrainChain is benefitting every level of the agricultural industry. GrainChain’s solutions help guarantee everything from timely payments for farmers and suppliers to the instant availability of tradable commodities, improving the quality across the entire supply chain.   

“Fast Company’s recognition of GrainChain further solidifies the importance of the meaningful work GrainChain is doing in the agricultural industry as its products guarantee visibility and security to growers and vendors as well as reduce risk to bankers and buyers,” said Jonathan Johnson, CEO of Overstock and president of Medici Ventures. “GrainChain’s platform serves as a vital tool to help farm economies continue to grow. It is great to see Fast Company recognize the significant work GrainChain is doing to change the world through blockchain technology.”

“There seems no better time to recognize organizations that are using their ingenuity, resources, and, in some cases, their scale to tackle society’s biggest problems,” says Stephanie Mehta, editor-in-chief of Fast Company. “Our journalists, under the leadership of senior editor Morgan Clendaniel, have uncovered some of the smartest and most inspiring projects of the year.”

Now in its fourth year, the World Changing Ideas Awards showcase 26 winners, more than 200 finalists, and more than 500 honorable mentions — with Health and Wellness, Corporate Social Responsibility, and AI and Data among the most popular categories. A panel of eminent judges selected winners and finalists from a pool of more than 3,000 entries across transportation, education, food, politics, technology and more. The 2020 awards feature entries from across the globe, from Vancouver to Singapore to Tel Aviv.