Lloyd Dorfman Quotes

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.

When you think about how everything else works in the digital age and the way that money does, money really falls short.

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

Humans don't 'need' math-based cryptocurrencies when dealing with other humans. We walk slowly, talk slowly, and buy big things. Credit cards, cash, wires, checks - the world seems fine.

I don't carry cash often. I'm all about the plastic.

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

Bitcoin will make a dent in society when more normal transactions occur that would have occurred with dollars or credit card.

The truth is I don't really like the world of plastic money: the great chip-and-pin double act of modern payment. I prefer cash. I don't like the idea of some distant clerk nodding each time I make a card purchase and quietly adding to my 'consumer profile.' I'm anti all cards.

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?

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.

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

The idea of money being something physical is almost entirely a fiction. Sure, you can go to your ATM and pull out cash. And you can feel cash in your back pocket and have some tangible comfort there - but in reality, the majority of your money is a number on a screen.

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.

I want to help create the world's first global currency built on the Internet and built on open platforms and standards such as Bitcoin, and I want to build a financial services institution on top of that. That's what I'm doing with Circle.

Social messaging has become the defining app of the smartphone era. Social payments has been a natural extension of this phenomenon - it's going to be the locus of most communications activity.

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.

In a cashless society, the cash has been converted into numbers, into signals, into electronic currents. In short: Information replaces cash.

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.

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.

When I was coming up through the ranks, not that many people carried a lot money of money on them. This was before checks and credit cards.

Money is the only thing you can use even if you don't have any. ... There's always a credit card.

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

ATM is still a cash channel; we want to migrate it to the digital channel.

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.

Any competent programmer has an API to cash, payments, escrow, wills, notaries, lotteries, dividends, micropayments, subscriptions, crowdfunding, and more.