David O. Sacks Quotes

Bitcoin is great as a form of digital money, but its scripting language is too weak for any kind of serious advanced applications to be built on top.

People think about Bitcoin incorrectly. They think about it as currency or about gold or hoarding, speculation, about how much money do you make. When really, what it is is an API for programmable cash transactions.

It's important not to think about Bitcoin as a replacement for cash or gold or something that works alongside that; it's to think of it as programmable money. And we just cannot even imagine what that will be used for.

The blockchain is the financial challenge of our time. It is going to change the way that our financial world operates.

Digital currency is not going away. It's here to stay.

2016 has proven to be the year where the most forward-thinking financial institutions are actually using blockchain technologies for payments and settlement rather than as an experiment.

For the first time in 6,000 years of human history, we can have peer-to-peer exchange where trust is not a problem anymore. And it's through the technology that underlies bitcoin. It's called the block chain.

We believe that Ripple will change the way the world thinks about and uses currency through universal access to a trusted, transparent, and easy-to-understand multi-currency financial tool.

If you look at the trends, China very well could be the driver of the adoption of block chain consumer services.

Just as the web democratized publishing and development, Bitcoin can democratize building new financial services. Contracts can be entered into, verified, and enforced completely electronically, using any third-party that you care to trust, or by the code itself.

By lowering the barrier to create new digital currency applications, we'll see an explosion in the number of ideas tried. We'll invest in, partner with, or build a number of new applications in this space, including replacements for many of the services people use in finance 1.0.

I've been all over meeting government ministers and such in Caribbean financial circles. There's a small blockchain movement in the Caribbean. They've been quite a bit more advanced than you might've imagined.

A distributed ledger is basically a shared database that allows institutions to directly send and receive money in a trustworthy fashion without a middleman. As a result, we have the capacity to connect the world's payment systems for the first time.That's a big deal.

Instead of the cashier and ticket-ripper of the movie theater, the block chain consists of thousands of computers that can process digital tickets, money, and many other fiduciary objects in digital form. Think of thousands of robots wearing green eye shades, all checking each other's accounting.

The main event isn't bitcoin. It's using the blockchain to disrupt other industries and Wall Street.

When we started ShapeShift, a future world of natively digital assets was very theoretical.

Like the Internet, Bitcoin will change the way people interact and do business around the world.

What's happening in crypto - and certainly what's happening at Ripple - we have an opportunity to fundamentally change the way global commerce is managed from a payments point of view.

I had been exposed to bitcoin early. I thought the consumer application of it felt, to me, further away. I thought there would be faster adoption of the blockchain in the enterprise space and with banks.

The number of industries, communities, habits, traditions, and even interpersonal interactions that Bitcoin has the potential to revolutionize is massive.

My belief is that the vast majority of people using digital currency today are not seeking to evade taxes. They are simply investors seeking returns and people interested in a nascent new technology.

And once you get instantaneous communication with everybody, you have economic activity that's far more advanced, far more liquid, far more distributed than ever before.

The changing nature of money is only one facet of the financial services revolution.

The Internet's proven to be a pretty big deal for global society, and Bitcoin could basically be thought of as the Internet, applied to money.

At its core, bitcoin is a smart currency designed by very forward-thinking engineers. It eliminates the need for banks, gets rid of credit card fees, currency exchange fees, money transfer fees, and reduces the need for lawyers in transitions... all good things.