A Bitcoin pioneer looks to change the trading world with a revolutionary stock exchange.

On Monday, CEO of Overstock.com Patrick Byrne announced plans to reinvent the stock market using Bitcoin technology .

His dream is to create a democratised trading environment, where anyone can issue financial instruments and companies can go public in a less expensive fashion. The exchange would rely on blockchain, the massive transactional database which keeps track of every single bitcoin transaction that is executed.

Here are some other key features of Byrne’s ‘dream’ stock exchange, code-named Medici :

It would be fairer.

The Bitcoin exchange would make it easier for companies to launch their IPOs. If Byrnes project is successful, he could save companies approximately 20% of what Wall Street banks currently charge them for this service.

Furthermore, the new exchange could steal away business from the more conventional stock exchanges by making it easier for individuals to trade financial securities.

It would be safer.

Because blockchain allows bitcoins and other cryptocurrencies to be tracked, Byrnes new stock exchange would provide more transparency than its competitors. There would also be no need for intermediately parties during a trade, which would cut dow on trading costs and the potential for fraud. High-frequency trading would also allegedly become less of an issue.

Overstock.com. Patrick Byrnes eCommerce brainchild. starting accepting bitcoins as a form of payment at the beginning of this year. As a man with a history of pushing for financial reform, Byrne has become heavily involved in the Bitcoin movement since then.

Although he has not achieved any regulatory approval for his project yet, Byrne claims that he is currently in talks with regulators who have the power to make his vision a reality.

Patrick Byrne discusses the advantages of Bitcoin in August 2014:

As with so many other new financial technologies, a Bitcoin exchange sounds almost too futuristic, feasible as a concept but not in practice. That, however, is not the case. All it will take is the success of one alternative market like this, and the floodgates will begin to open.

As Byrne says in the video, if youre not doing it now, youre going to be doing it in 5 years. Savvy traders, who are taking the applications of Bitcoin seriously now, will be reaping the benefits later in this decade.

Do you think that Byrnes Bitcoin stock exchange will be a success? 

Leave your comments below.

If youre looking to learn more about Bitcoin and other disruptive trading technologies,

t hen you should attend The Trading Show 2015 and listen to the experts.