Overstock Wants to Clean up Food Distribution – and Wall Street

by GIULIO PRISCO on JULY 15, 20150

Overstock.com is expanding its already popular online produce delivery service by teaming up with farmers in 35 states, Retailing Today reports. The partnership means that nearly half of Americans currently have access to this continuously expanding service.

Overstock’s newest fresh-food partner, Front Door Farms, whose products are now offered through Overstock’s Farmers Market, delivers to the customer’s door two or three days after harvest.

“We chose Front Door Farms because it works with local farmers to harvest fruits and vegetables that are fresh and nutritious,” said Overstock CEO Patrick M. Byrne. “Our goal is to deliver fresh produce the way farmers grow it, as opposed to the food-like substances delivered through this nation’s agribusiness supply chains. Products sold in Overstock’s Farmers Market are designed to inspire creativity, fun and imagination in kitchens using the best ingredients.”

That’s very good news for those consumers who prefer to bypass traditional mass-distribution channels and buy directly from food producers for a healthier and greener life. It’s also very good news for bitcoin users, because Overstock is the largest online retailer to accept bitcoin payments for all the products offered via its web store.

Those who are paid in bitcoin and wish to pay in bitcoin for most of the goods and services that they need – a small but fast-growing population – will find Overstock’s new initiative appealing. Buying food in bitcoin is also a useful strategy to escape the growing surveillance of bank transfers to and from bitcoin exchanges and “bitcoin banks,” which could become a bottleneck in the Bitcoin ecosystem.

If banks start rejecting transfers from Circle or Coinbase, consumers will have more options to use their bitcoin directly, without having to go through the banks.