” 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. “
” 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. “
” 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. “
” 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. “
” 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. “
” 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. “
All 6 Patrick M. Byrne Quotes about You in picture
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