Jonathan Johnson Talks About Their Blockchain Investment Strategy At Overstock’s Medici Ventures
Jonathan Johnson Talks About The Investment Strategy They Have At Medici Ventures
The president of Medici Ventures, Jonathan Johnson talked about the cryptocurrency market and how they are currently investing in blockchain and the space during a bear market. This firm has already funded around twenty different companies that include blockchain voting solutions and other interesting proposals.
In a recent conversation with The Block, he mentioned that he is very bullish about the technology. He did not mention it directly, but he explained which things they pay attention to at the time of checking a blockchain-related project.
He mentioned that when there is a blockchain application that allows individuals to vote remotely, they embed it into their system. The same they would do with a blockchain application that allows people to have their land title on the blockchain, for example. He went on saying that people will not be realizing that they are using blockchain technology as they do not think that they use the internet every single time they have an application.
At the moment, they are searching for businesses that place blockchain technology as a critical thing for their business model.
About it, Johnson commented:
“Look, if a database works, and works well, let’s just keep using it as it is, right? Blockchain can’t be an excuse. Then we’re looking for a management team that consists of good technologists, good industry expertise, good marketing and sales. If you have a workable business plan, you have to execute on it, and we found that without industry experience, without proper management and without good technologists, you can’t get the blockchain.”
It is also important to find people that know how to do the job. If there are individuals working with blockchain technology but they do not know something about healthcare they are not going to be able to develop any solution and grow.
According to Mr. Johnson, they are analysing several companies per week, between ten and twenty. At the moment, the companies that were able to survive the crypto winter are not focused on when Bitcoin will hit $20,000 or $250,000. Instead, they are currently working in products and services that offer real solutions.
Johnson said that as the internet changed the way we share information, Blockchain technology will change the way we share and exchange assets. These things can be art, objects or just simply stocks.