Article: Overstock’s Blockchain and the War Against Naked Shorting

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Overstock’s Blockchain and the War Against Naked Shorting

Jacob Dienelt

coindesk, 14 November 2016

Sometimes called the “Pariah of Wall Street”, Overstock CEO Patrick Byrne has spent decades fighting against a suspect practice known as “naked short selling”.

Naked short selling, or a naked short, occurs when a trader sells a share of stock without first procuring a “borrow” – an assurance that the shares are available to be delivered. This can lead to more shares being shorted than can actually be delivered to the buyers.

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