Jeremy Allaire Quotes

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

Money is catching up to the technological trends transforming all aspects of society and business; entertainment, insurance, health-care, gaming, leisure, retail - all commercial and social verticals are going digital - including money itself.

Cash is going to be killed. It will be nostalgia.

PayPal exists because banks are not interoperable: I can't efficiently pay you $10 unless I'm giving you a $10 bill. So we're all on PayPal and Venmo, I need interoperability on the same ledger.

Twitter was around communication and visualizing what was happening in the world in real-time. Square was allowing everyone to accept the form of payment people have in their pocket today, which is a credit card.

Technology has come a long way since PayPal.

Bitcoin woke us all up to a new way to pay, and culturally, I think a much larger percentage of us have become accustomed to the idea that money no longer comes with the friction it once had.

I was fascinated by the fact that in Osaka, we saw people using their cell phones to pay for small goods.

Cryptocurrency currencies take the concept of money, and they take it native into computers, where everything is settled with computers and doesn't require external institutions or trusted third parties to validate things.

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.

If you're someone in the business of verifying transactions on a proprietary network, the invention of Bitcoin cannot be safely ignored. It will change or disrupt the providers of most proprietary payment networks in the coming years.

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.

Bitcoin and digital currency is just this thing that was always going to happen.

Earlier, physical currency used to dominate. Now, mobile currency or digital currency is dominating. For digital currency, fintech is very crucial.

I think a lot of people have predicted the demise of cash, and they've frequently been wrong. But there's no question that the smartphone is leading to the digitization of money. You really now have all the power of a bank branch in the palm of your hand.

Banking now is like sending a letter: you send it, you don't know if it reached there. Ripple is more like sending an iMessage: you send it, and you immediately know.

Digital payments have already made it easier to move and manage money. While there's more work to do, the potential is real and understood.

Physical money, whether it's checks or cash or credit card, are digitizing in front of us.

We live in a digital world where all is available at the touch of a screen. Money has been simplified, changed subtly over time from tangible bills to numbers in cyberspace. Cash is no longer in a cloth bag; it's numbers on a screen. Numbers that can be manipulated and modified. If you run out of numbers, you can just buy some more, right?

I think long-term, Bitcoin is a currency of the Internet. So, even if humans don't use it, routers will use it. Web browsers will use it. Web servers will use it.

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.

Cash as a physical entity will virtually cease to exist, with coins and checkbooks consigned to museums. As people conduct their financial transactions on hand-held devices made secure by advanced biometrics, even tipping will be done electronically.

Cryptocurrencies are an emergent property of the Internet - almost a fifth protocol in the Internet suite. If Satoshi Nakomoto did not exist, it would still be necessary to invent them.

There will be an electronic currency, and it will be universal, and we must accept that fact.