DAVID A. JOHNSTON: BITCOIN 2.0 AND DECENTRALIZED APPLICATIONS

NEW YORK (InsideBitcoins) – David A. Johnston is the founder of BitAngels, the world’s largest angel investor network and serves as a board member of the Mastercoin Foundation, which facilitates the creation and trading of smart properties and user currencies as well as other types of Bitcoin 2.0 protocols. He is also the managing director of The DApps Fund, an organization focused on building the future of decentralized applications.
Johnston will be speaking at Inside Bitcoins Tel Aviv this weekend and spoke to Darnell Jackson about industry trends.
You recently tweeted about Home Depot’s huge credit card breach exposing over 56 million customer credit cards. JP Morgan Chase has also been victimized, joining the ranks of Kmart/Sears, Target, and others. How can blockchain security protect consumers?
‘By placing customer information in a single database (as Chase, Kmart, and Target did) an attacker only has to find a single weak spot in their system in order to steal records for millions of individuals. The decentralized model of the blockchain, in contrast, offers a different security model whereby each person holds the keys – password, if you will – to their own information.

This post was published at Inside Bitcoins on Darnell Jackson Oct 16, 2014.