Patrick M. Byrne Quotes

I do think the blockchain infrastructure is here to stay.

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

You could imagine something like a completely automated system for renting bikes that's just done completely over blockchain crypto-payments. And theoretically just sort of start it up, and it works completely autonomously.

The blockchain is the financial challenge of our time. It is going to change the way that our financial world operates.

We don't think the blockchain can do most of what's been ascribed to it. But we're entering the Internet of value - and that is very much underhyped.

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

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

Some of the uses being implemented for blockchain could actually work better with a database.

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

The blockchain concept was pioneered within the context of crypto-currency Bitcoin, but engineers have imagined many other ways for distributed ledger technology to streamline the world. Stock exchanges and big banks, for example, are looking at blockchain-type systems as trading settlement platforms.

What's happening in crypto - and certainly what's happening at Ripple - we have an opportunity to fundamentally change the way global commerce is managed from a payments point of view.

There's all these proofs that go on of identity, of records, and they're quite non-digital. The blockchain innovation really allows us to take everything where there's record keeping, everything where there's trust around record keeping, and it allows us to make that digital, immutable, permanent, and global.

Bitcoin is a technological tour de force

We are on our way to blockchains as the fabric of society - the system for what we own (assets), who we are (identity), how we make decisions (governance), and more in an increasingly digital world. It's going to be a wild ride.

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.

Security tokens are going to give birth to a quadrillion dollar market. This is because we will see the tokenization of the world's fiat money, debt market, real estate, equities, and art.

On the blockchain, you have a public ledger, which is the form of ownership. That means you are not doing net settlement - just netting everything down, which means that everything has been turned into fungible numbers.

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.

Blockchain technologies will change transactions in a broad way.

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.

Yeah, I love Ethereum. I love coding.

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.

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.

Instead of the cashier and ticket-ripper of the movie theater, the block chain consists of thousands of computers that can process digital tickets, money, and many other fiduciary objects in digital form. Think of thousands of robots wearing green eye shades, all checking each other's accounting.

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