Financial Infrastructure Quotes

JPMorgan was already, for the most part. Our businesses at JPMorgan share the same cash-management systems. The commercial bank, the private bank, the retail bank, they all use the branches. The cash-management system moves the money around the world - for global corporations, and for you, the consumer, too.

When a country doesn't have a good economic infrastructure, that harms the country. With Stripe, the idea is that by providing better infrastructure, by linking the Internet economically, by making it easier for these online businesses to exist, it'll make the web better.

At Square, we got our tech up and running in three weeks, but it took us 18 months to get licenses, banking relationships and everything else we needed to be able to move money. We had to partner up with major companies to do it.

I spent my whole career thinking about risk, markets, infrastructure, and regulation. I had seen the financial crisis unfold, and I had seen the credit derivatives market get operationally ahead of itself, which resulted in systemic risk counterparty exposures. I began to believe that distributed ledgers had the capability to tackle that problem.

For market discipline to constrain risk effectively, financial institutions must be allowed to fail. Under optimal financial regulatory and financial system infrastructures, such a failure would not threaten the overall system.

Like it or not, we have to have a financial system that is healthy and functioning.

Banking is necessary - banks are not.

We have institutions that have been allowed to become too big to fail because we had all kinds of flaws in our financial infrastructure, in the whole way over-the-counter derivatives work.

Stripe is building payment infrastructure for the Web, so we make it easy to accept credit cards online. Before Stripe, the way you'd do this is using the legacy banking structure. It was slow, it was complex, it was expensive. It had this very chilling effect on e-commerce.

Most governments want their citizens to be part of the financial system, to be productive citizens as a result of having access to be able to manage and move money in a seamless way. But the traditional financial services infrastructure is not designed to handle that because, predominantly, it's an expensive infrastructure.

Without the parallel development of systems of monetary - and credit-based exchange - there could have been no development of economies beyond the most primitive organizational forms and the most geographically restricted sales.

That goes back to 1932, although it was really implemented in '33 under Jesse Jones, and it invested in mostly banks initially and preferred stock and that sort of thing. So there are two things needed in the system, the one that's needed overwhelmingly is liquidity. I mean, when people are trying to [unintelligible], there has to be somebody there to buy.

An efficient payments system provides the infrastructure needed to transfer money in low-cost and convenient ways. Efficient systems are innovative in improving the quality of services in response to changing technology and changing demand.

You look at the steamboat, the railroad, the car, the airplane - not all of these were invented in the Anglo-American world, but they were popularized and extended by it. They were made possible by the financial architecture, the capital intensive operations invented and developed by the Anglo-Americans.

Cash is not cheap. The physical infrastructure is not easy to maintain and cheap.

When Coinbase was starting, we thought we were seeing the birth of something that was really important - what I would almost describe as the future fabric of society - the system for who we are - our identities, what we own, our assets.

There can be no time, no state of things, in which Credit is not essential to a Nation.

Sometimes it takes a crisis for people to agree that what is obvious and should have been done years ago, can no longer be postponed. We must create a new international financial architecture for the global age.

As much as the banking system may not be terribly popular, it is an essential part of the economy.

What is lacking to the underdeveloped nations is not knowledge, but capital.

Payment systems are critically important for overall market stability. On a typical business day, U.S. payment and settlement systems settle transactions valued at over $13 trillion.

Our huge infrastructure that we need for keeping cash is very expensive.

We are today a nearly 100% banked country.

There's something different about an indie film than a TV show that has a huge infrastructure that's in place already for you - at least financially and in terms of distribution. Whereas an indie film is just a total dare.

I'm not against banking. Banking allowed our modern society to happen, it is essential. It connects the work through finance, so banking is good.