Trustless System Quotes

With Bitcoin, no one has a monopoly of information.

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

People didn't know where they could trade. When everybody owes each other IOUs that can be in multiple places at once, that's how the system couldn't tell any more who owned what and who owed what to whom. Blockchain could have prevented 2008.

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.

Blockchain is an innovative technology with the power to change society and is gaining the world's attention as a technology to enhance the competitiveness of the urban economy.

When I came up with Ethereum, my first first thought was, 'Okay, this thing is too good to be true.' As it turned out, the core Ethereum idea was good - fundamentally, completely sound.

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

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

What is the motive to the secret ballot? This, and only this: Like other confederates in crime, those who use it are not friends, but enemies; and they are afraid to be known, and to have their individual doings known, even to each other.

Bitcoin is amazingly transformative because it's the first time in the entire history of the world in which anybody can now send or receive any amount of money, with anyone else, anywhere on the planet, without having to ask permission from any bank or government.

Just as the web democratized publishing and development, Bitcoin can democratize building new financial services. Contracts can be entered into, verified, and enforced completely electronically, using any third-party that you care to trust, or by the code itself.

I do think that overall blockchains are likely to be a much more powerful force for good than evil.

For the foreseeable future, I'm all about building blockchain-based decentralized services.

I do think the blockchain infrastructure is here to stay.

The right way to think about the blockchain is that it's going to replace the entire Internet.

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

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.

The main advantage of blockchain technology is supposed to be that it's more secure, but new technologies are generally hard for people to trust, and this paradox can't really be avoided.

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.

Blockchain technologies will change transactions in a broad way.

If you think about any multiparty process where shared information is necessary to the completion of transactions, and the coordination of activity and the exchange of value, that's where blockchain technology can be put to good use.

I call the blockchain 'the Internet of value' and 'the Internet of trust.' Because everything becomes trustless. It's a big distributed ledger. Think of it like an Excel file that's being maintained and updated and managed by millions of computers around the world.

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.

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

When you drill down, blockchains are really a shared version of reality everyone agrees on. So whether it's a fully immersive VR experience, augmented reality, or even Bitcoin or Ethereum in the physical world as a shared ledger for our 'real world,' we'll increasingly trust blockchains as our basis for reality.