Patrick M. Byrne Quotes

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

The blockchain is a distributed network that solves all the problems that we have of finance, but more broadly, it's like a philosophy. It's a way of life.

Blockchain's a very interesting technology that will have some very profound applications for society over the years to come.

I do think the blockchain infrastructure is here to stay.

Blockchain is really exciting technology because it's actually providing both transparency but also agility in a contractual relationship that any organization should have.

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.

The revolution of blockchain is not going to happen from outside the system; it's going to happen from within the system.

While it may seem scarier in the earlier days, I think ultimately the blockchain creates a safer world.

When we look at government in Washington or what's happening on Wall Street, we see so much centralization. But really, our goals should be to eliminate and overcome these central institutions. And in recent years we have gained powerful new tools to do this, and most significant among those is the block chain, which is the software behind Bitcoin.

I do think that overall blockchains are likely to be a much more powerful force for good than evil.

I have no problem with the financial industry inviting the Trojan Horse of blockchain technology into their walled garden. Because I know how powerful the technology is.

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.

The blockchain is going to change everything more than the Internet has.

With Bitcoin, no one has a monopoly of information.

The bigger thing with bitcoin is not bitcoin itself, but what does that decentralized technology really do?

Bitcoin is successful only because of its potential for circumvention, lack of oversight.

Think of Bitcoin as a bank account in the cloud, and it's completely decentralized: not the Swiss government, not the American government. It's all the participants in the network enforcing.

Pretty uniformly, people want the benefits of bitcoin and the blockchain - near-instant transfers, globally available on any Internet-connected device, highly secure, and nearly-free value transfers.

Anybody who has enough information about what's going on in the bitcoin world, you would not buy your bitcoins on Mt. Gox.

Digital Asset has a revolutionary technology platform that eliminates the counterparty risk and lack of transparency that has hindered mainstream adoption of cryptographic technology.

Gradually, decentralized trust will be accepted as a new and effective trust model. We have seen this evolution of understanding before - on the Internet.

Blockchain technology, or distributed ledger technology, is just a way of using the modern sciences of encryption to enable entities to share a common infrastructure for database retention.

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.

There is absolutely no reason in the world of blockchain to build in net settlement. It's like saying you have got a new Ferrari and we are going to put a lawnmower engine in it.