Jonathan Johnson, president of Medici Ventures, explains what blockchain and bitcoin is at Brigham Young University’s Blockchain Summit Feb. 16, 2018.

Encircle founder honored for her Business results focus of event As comedian Ellen DeGeneres explained Thursday afternoon on her television show: “Everybody is talking about bitcoin, nobody understands it.” Students, business professionals and investors tackled that question as they came together Friday at Brigham Young University for its first-ever Blockchain Summit. The summit, organized by BYU law student Ryan Lewis, pulled in an impressive array of experts working in this very new field.

As Chad Bennett, founder and CEO of Heroic Cybersecurity in Provo, explained Friday morning, the “internet is the information exchange protocol,” and “blockchain is the value exchange protocol.” Just as the internet changed the way society, at a very basic level, exchanges information, blockchain advocates say this new technology will change the way society exchanges assets. Jonathan Johnson, president of Medici Ventures and a member of Overstock.com’s board of directors, defined assets as: real property — like land or a home, currencies — including cryptocurrencies, or even stocks and bonds.

“An asset can be anything that, when I give it to you, you don’t want a copy. You want the actual thing,” Johnson said.

Sending someone an email or PDF — those are copies of the actual thing, he added. In that situation, users don’t care if it’s a copy. Read more from heraldextra.com…

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