Patrick M. Byrne Quotes

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.

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.

If Ripple as a company went away, XRP would continue to trade. To me, that's the definition of decentralization.

The thing I think is often misunderstood about Ripple is people say, 'Oh, Ripple is a centralized platform.' To me, this is a legacy perspective. Ripple's technology, IRP, is open source; XRP Ledger is open source.

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.

Bitcoin is open-source, global, and requires no permission from anybody, so thousands of entrepreneurs are gravitating in and building their vision.

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

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.

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.

You're going to start seeing open-source, self-executing contracts gradually improve over time. What the Internet did to publishing, blockchain will do to about 160 different industries. It's crazy.

This is where the block chain is most useful and revolutionary: It helps us to overcome the problem of mutual trust in exchange, which will, in turn, make many of our modern central institutions unnecessary.

I would describe Hyperledger as a tremendous opportunity for collaboration for firms that range from gigantic commercial concerns all the way to the smallest, newest startups. It's a community of great intellectual depth and great commercial breadth, and as such, I think the opportunity to be part of that is a unique and enriching experience.

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.

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

Make no mistake - Ethereum would never have existed without Bitcoin as a forerunner. That said, I think Ethereum is ahead of Bitcoin in many ways and represents the bleeding edge of digital currency.

With NXT there are always going to be a few people who are still developing because that's what NXT is, but that's really exciting because you get to see them thrown into the deep end.

Some in the bitcoin community have always taken an anti-government, anti-fiat, anti-bank approach to their philosophy. Ripple takes the orthogonal side of each of those.

Blockchain technologies will change transactions in a broad way.

Yeah, I love Ethereum. I love coding.

When the Bitcoin white paper emerged in 2008, it was completely revolutionary. The amount of concepts that had to come together in just the right way - computer science, cryptography, and economic incentives - was astonishing.

You look at Bitcoin, and it is an entirely new currency, completely decentralized, anonymous; transactions occur incredibly fast for free, all designed by the free market.

Everyone, it's okay to say the word 'bitcoin' and acknowledge that it is the actual platform that is driving this innovation that we're all building on. It's also okay to say 'the bitcoin blockchain,' or 'the blockchain,' if you're afraid that people will think you're weird.

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.

This Bitcoin currency is a voluntary decentralized currency, anonymous. It can't be shut down by anyone; there are no central servers.

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