We want a money that some government mandarin can’t just whisk into existence with a pen stroke. Patrick M. Byrne Read Quote
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. Patrick M. Byrne Read Quote
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. Patrick M. Byrne Read Quote
We know that flat and non-hierarchical systems use information best. I’ve tried to do that with my own company because it works better that way. And society at large will work better as well if we can get rid of these old institutions and hierarchies. New innovations like the block chain can make this possible. Patrick M. Byrne Read Quote
I’ve been all over meeting government ministers and such in Caribbean financial circles. There’s a small blockchain movement in the Caribbean. They’ve been quite a bit more advanced than you might’ve imagined. Patrick M. Byrne Read Quote
I’m not in the business of bayoneting the wounded. I feel the blockchain revolution is kind of my victory. I don’t care whether I win it, someone else wins it. Patrick M. Byrne Read Quote
I’ve been in a room in Silicon Valley where on the wall they have 160 industries they think blockchain can disrupt. We picked six of them to focus on. Patrick M. Byrne Read Quote
Right now, you’ve got three days between a trade and a settlement, with hundreds of millions in settlement risk tied up in that time. That all goes away in a blockchain system because you’ve reunited the trade with the settlement. They’re not two separate processes. Patrick M. Byrne Read Quote
t0 is blockchain-agnostic so, ultimately, we can use anybody’s blockchain. Patrick M. Byrne Read Quote
There are regulators at the SEC and elsewhere who are really excited about the potential of the blockchain. They understand you can build a robust financial system – it would solve all your black swan problems. All kinds of mischief and games that are played in the current system become impossible in this system. Patrick M. Byrne Read Quote
