Consider that if we knew the exact composition of the universe and all of its properties and had enough energy and know-how to draw upon, theoretically, we could break the universe down into ones and zeroes and using that information, reconstruct it from the bottom up.
Perhaps, but you would need more energy and matter than there is in the universe to do so I think. Humans tend to think in terms of dominant paradigms in science and technology. Thinking of the universe in terms of information matches a focus on connectivity and an an age of information networking. But the proposition quoted above is quite similar to that of a clockwork universe, and to me the idea that the universe might only be data and information, a revision of Platonic ideals.
http://bigthink.com/philip-perry/the-basis-of-the-universe-may-not-be-energy-or-matter-but-information
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