Patrick M. Byrne Quotes

A lot of what I see in blockchain promises to get us as an industry from A to Z. As an investor and entrepreneur, I am constantly on the lookout for how we get from A to B.

When asked to explain this space, I often ask people to forget pretty much everything you've heard about blockchains, crypto-currencies, and bitcoin, and instead dumb it down a lot and think about something no more complex or intimidating than good old-fashioned database technology.

Ether is the token of the Ethereum network, which is focused on disrupting contract law.

The Hyperledger Project is gaining traction on a daily basis, displaying how vital this effort is in advancing distributed ledger technology. Uniting the industry to drive this initiative forward is paramount to the success of distributed ledger technology.

For the foreseeable future, I'm all about building blockchain-based decentralized services.

I think the best projects understand that they don't need to invent a new currency. They don't need to use the block chain as their long-term data storage solution. And they don't need to use the peer-to-peer network as their communication mechanism. They should use the block chain as the world's most secure distributed ledger.

The interesting thing about blockchain is that it has made it possible for humanity to reach a consensus about a piece of data without having any authority to dictate it.

I think the whole narrative of blockchain without bitcoin will amount to very little.

Blockchain Capital was the first dedicated venture fund to invest in crypto and blockchain.

Everything will be tokenized and connected by a blockchain one day.

There is an opportunity to recreate the financial world as we know it in the parallel universe that is the blockchain. We are writing rules for this whole new universe.

Take a very small amount of money, your throwaway money, treat it as if it's already gone, you've mentally set it on fire, and put it in some distribution of a few truly legit layer 1 blockchains.

As I was looking around, to me, what was happening in the blockchain and crypto world was a movement.

With the block chain, for the first time, we no longer need these central institutions for settlement or for guaranteeing the value of coins or for land titling. All of these functions can be replaced by a transparent public ledger that is safe from tampering and which can make value and ownership clear and open for everyone.

I call the blockchain 'the Internet of value' and 'the Internet of trust.' Because everything becomes trustless. It's a big distributed ledger. Think of it like an Excel file that's being maintained and updated and managed by millions of computers around the world.

We don't think the blockchain can do most of what's been ascribed to it. But we're entering the Internet of value - and that is very much underhyped.

On the blockchain, you have a public ledger, which is the form of ownership. That means you are not doing net settlement - just netting everything down, which means that everything has been turned into fungible numbers.

Some of the uses being implemented for blockchain could actually work better with a database.

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.

Sales conducted on-chain through smart contracts couldn't really be done before Ethereum, which is why they are a newer concept. I think this style will become the most common over time.

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.

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

Countless banks around the world are already testing distributed ledger systems in proof-of-concept trials.