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Despite the buzz around blockchain, there's still confusion about what it is, how it works, and how it's changing the way we do business. The original blockchain was implemented as a cryptographically enhanced digital ledger for the cryptocurrency Bitcoin. Now "blockchain technologies" are springing up in a range of applications—within the financial services sector and beyond. "I think blockchain will do for the transfer of assets what the Internet did for transfer of information," says Jonathan Johnson, a member of Overstock.com's Board of Directors and president of its blockchain investment subsidiary Medici Ventures. In this article, he shares his views on "why blockchain is so important right now and what it means for the future of business."
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