Jonathan Johnson Contributor Jonathan Johnson is president of Medici Ventures.

Nearly five years ago, Overstock.com became the first major retailer to accept bitcoin as a form of payment. It now accepts many top cryptocurrencies. As a member of the senior executive team and board of directors at Overstock.com, I had a front-row seat to those decisions.

It didn’t take long for the Overstock team to realize that bitcoin’s underlying blockchain...

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