A Quote by Patrick M. Byrne
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.
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Over the next decade, there will be disruption as significant as the Internet was for publishing, where blockchain is going to disrupt dozens of industries, one being capital markets and Wall Street.
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.
When decentralized blockchain protocols start displacing the centralized web services that dominate the current Internet, we'll start to see real internet-based sovereignty. The future Internet will be decentralized.
The Internet browser is the most susceptible to viruses. The browser is naive about downloading and executing software. Google is trying to help by releasing the Chrome browser as open source.
Study how to write smart contracts, which is the basic unit of programming a blockchain for business purposes. It is the equivalent of being taught HTML and Java during the early Internet days. And master how to create assets or tokenize existing ones on a blockchain.
There will be many types of assets codified into the blockchain, and they are all not just going to be on the bitcoin blockchain - it's going to be a number of different assets here. And the best way to invest in that is a diversified portfolio.
We have to ensure free and open exchange of information. That starts with an open internet. I will take a backseat to no one in my commitment to network neutrality. Because once providers start to privilege some applications or websites over others then the smaller voices get squeezed out and we all lose. The internet is perhaps the most open network in history, and we have to keep it that way.
I think that governments are going to get disrupted by the blockchain. I think in the same way that the Internet forced everyone to evolve, the Blockchain is going to change the game again.
At Coinbase, our mission is to create an open financial system for the world. We believe that open protocols for money will create more innovation, economic freedom, and equality of opportunity in the world, just like the Internet did for publishing information.
I was playing with George Harrison one time, and George loves takes. This song was up to Take 160. I said, 'George, do you want me to play the same thing or 160 different things?' It drove me crazy because, in general, I'm ready to play my part.
I don't understand what people are talking about in different rhymes glorifying jail. If you like going to bed early, getting yelled at, seeing a fight, seeing somebody getting their head split open, or fighting over the TV then that's the place for you.
Public blockchains are almost like the public Internet, which is open and widely accessible. If you can get on the Internet, you will likely be able to get on a public blockchain via a specific application.
If blockchain technologies ignore the eventuality of standards, we are going to see less adoption. Maybe we should think of the blockchain as a public-good utility and encourage an evolution that is not unlike the Internet's in terms of openness and neutrality of access.
If an open source product gets good enough, we'll simply take it. So the great thing about open source is nobody owns it - a company like Oracle is free to take it for nothing, include it in our products and charge for support, and that's what we'll do. So it is not disruptive at all - you have to find places to add value. Once open source gets good enough, competing with it would be insane. We don't have to fight open source, we have to exploit open source.
The right way to think about the blockchain is that it's going to replace the entire Internet.
Big companies do not want to disrupt themselves. All they want to do is improve themselves. They see the blockchain as another IT project. It's going to save money; it's going improve a process here and there. It's not going to change their business.
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