GrainChain, a company providing blockchain-based software tools focused on payment solutions for farmers, buyers, and grain elevators, announced on Tuesday that Medici Ventures, the blockchain-oriented venture capital arm of e-commerce firm Overstock.com (NASDAQ:OSTK), had invested $2.5 million in its equity. Thus, Medici Ventures acquired 10% ownership in GrainChain with the option to buy an additional 10% stake at a later date.

GrainChain was founded five years ago by SiloSys’ founder. The company provides a blockchain platform with the goal to reduce the number of manual operations related to weighing and monitoring agricultural yield. GrainChain proposes a financial settlemen…

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