Top 40 Quotes of Blockchain Technology

1. “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
– Don & Alex Tapscott, authors Blockchain Revolution (2016)

2. “Blockchain solves the problem of manipulation. When I speak about it in the West, people say they trust Google, Facebook, or their banks. But the rest of the world doesn’t trust organizations and corporations that much — I mean Africa, India, the Eastern Europe, or Russia. It’s not about the places where people are really rich. Blockchain’s opportunities are the highest in the countries that haven’t reached that level yet.”
– Vitalik Buterin, inventor of Ethereum

3. “Online identity and reputation will be decentralized. We will own the data that belongs to us.”
– William Mougayar, author The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology (2016)

4. “Just consider this: control of a currency is one of the most powerful tools a government wields; ask anybody in Ireland, Portugal, Greece, or Cyprus who lived through those countries’ recent financial crises. Bitcoin promises to take at least some of that power away from governments and hand it to people. That alone augurs significant political, cultural, and economic clashes. You”
– Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order

5. “Bitcoin has the same character a fax machine had. A single fax machine is a doorstop. The world where everyone has a fax machine is an immensely valuable thing.”
– Larry Summers, Former US Secretary of the Treasury

6. “As revolutionary as it sounds, Blockchain truly is a mechanism to bring everyone to the highest degree of accountability. No more missed transactions, human or machine errors, or even an exchange that was not done with the consent of the parties involved. Above anything else, the most critical area where Blockchain helps is to guarantee the validity of a transaction by recording it not only on a main register but a connected distributed system of registers, all of which are connected through a secure validation mechanism.”
– Ian Khan, TEDx Speaker | Author | Technology Futurist

7. “Satoshi Nakamoto’s aim in creating the decentralized Bitcoin ledger—the blockchain—was to allow users to control their own money so that no third party, not even the government, would be able to access or monitor it. But people were still opting for the convenience of centralized services like Coinbase and Bitstamp to hold their coins.”
– Nathaniel Popper, Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money

8. “The classic example used to demonstrate smart contracts in the form of code executing automatically is a vending machine. Unlike a person, a vending machine behaves algorithmically; the same instruction set will be followed every time in every case. When you deposit money and make a selection, the item is released. There is no possibility of the machine not feeling like complying with the contract today, or only partially complying (as long as it is not broken). A smart contract similarly cannot help but execute the prespecified code. As Lessig reminds us, “code is law” in the sense that the code will execute no matter what. This could be good or bad depending on the situation; either way, it is a new kind of situation in society that will require a heavy accommodation period if blockchain-based smart contracts are to become widespread.”
– Melanie Swan, Blockchain: Blueprint for a New Economy

9. “The potential is great for people in the informal economy to exploit the blockchain’s middleman-free way to exchange assets and information and its irrefutable public record that’s free from the control of any one central institution.” – Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order

10. “Templates of how we organize and govern such as partnerships, corporations, or nonprofits have not be updated in centuries, we still use many of the ancient rules and vernacular today, patching expanding gaps of trust and accounting all stemming from increasing modernized complexity.”
– Richie Etwaru, Blockchain: Trust Companies: Every Company Is at Risk of Being Disrupted by a Trusted Version of Itself

11. “Blockchains for all What are these enthusiasts on about? The ‘blockchain’ technology behind bitcoin could prove to be an ingredient of an entire new world of technology, as big as the internet itself, a wave of innovation that drives the middleman out of much commerce and leaves us much more free to exchange goods and services with people all over the world without going through corporate intermediaries. It could radically decentralise society itself, getting rid of the need for banks, governments, even companies and politicians. Take”
– Matt Ridley, The Evolution of Everything: How New Ideas Emerge

12. “Online, we still can’t reliably establish one another’s identities or trust one another to transact and exchange money without validation from a third party like a bank or a government. These same intermediaries collect our data and invade our privacy for commercial gain and national security. Even with”
– Don Tapscott, Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business and the World

13. “THE MORE FOUNDATIONAL A TECHNOLOGY IS, the more impact it can have. Blockchain technology is not a process improvement technology. At its fullest deployment potential, it is rather a disruptive technology; therefore it must be given that potential when being implemented.”
– William Mougayar, The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology

14. “There is an argument that blockchain technology can more equitably address issues related to freedom, jurisdiction, censorship, and regulation, perhaps in ways that nation-state models and international diplomacy efforts regarding human rights cannot. Irrespective of supporting the legitimacy of nation-states, there is a scale and jurisdiction acknowledgment and argument that certain operations are transnational and are more effectively administered, coordinated, monitored, and reviewed at a higher organizational level such as that of a World Trade Organization. The idea is to uplift transnational organizations from the limitations of geography-based, nation-state jurisdiction to a truly global cloud. The first point is that transnational organizations need transnational governance structures. The reach, accessibility, and transparency of blockchain technology could be an effective transnational governance structure. Blockchain governance is more congruent with the character and needs of transnational organizations than nation-state governance. The second point is that not only is the transnational governance provided by the blockchain more effective, it is fairer. There is potentially more equality, justice, and freedom available to organizations and their participants in a decentralized, cloud-based model. This is provided by the blockchain’s immutable public record, transparency, access, and reach. Anyone worldwide could look up and confirm the activities of transnational organizations on the blockchain. Thus, the blockchain is a global system of checks and balances that creates trust among all parties. This is precisely the sort of core infrastructural element that could allow humanity to scale to orders-of-magnitude larger progress with truly global organizations and coordination mechanisms.”
– Melanie Swan, Blockchain: Blueprint for a New Economy

15. “The bitcoin transaction script language, called Script, is a Forth-like reverse-polish notation stack-based execution language. If that sounds like gibberish, you probably haven’t studied 1960s programming languages, but that’s ok —”
– Andreas M. Antonopoulos, Mastering Bitcoin: Programming the Open Blockchain

16. “Even with a network of computers belonging to a company stretched across the world, the data is generally only required to be backed up around 3 to 5 locations. Additionally, billions of dollars are spent in order to protect these databases. In the case of a blockchain database, the data can exist on thousands of computers around the globe at a fraction of the cost. ”
– Chris Lambert, Cryptocurrency: How I Turned $400 into $100,000 by Trading Cryptocurrency for 6 months

17. “Blockchain verifies the information using the following steps: Consensus – it requires the majority of the block builders to agree that the occurrence actually happened. Consistency – requires that the new information fits with the previous block. Transaction – it requires that the transaction occurred by looking at the previous block, ensuring that two people did not record conflicting accounts of the information. Automated Conflict Identifiers – the software itself trolls for conflicts within the blocks and the structure. There is no centralized location, or big computer in the sky, where the information can be altered or stolen.”
– Jacob William, Blockchain: The Simple Guide To Everything You Need To Know

18. “Fortunately, bitcoin also creates the incentives to improve computer security. Whereas previously the risk of computer compromise was vague and indirect, bitcoin makes these risks clear and obvious. Holding bitcoin on a computer serves to focus the user’s mind on the need for improved computer security.”
– Andreas M. Antonopoulos, Mastering Bitcoin: Programming the Open Blockchain

19. “The creator of Bitcoin, Satoshi, disappeared back in 2011, leaving behind open source software that the users of Bitcoin could update and improve. Five years later, it was estimated that only 15 percent of the basic Bitcoin computer code was the same as what Satoshi had written.”
– Nathaniel Popper, Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money

20. “Investing In Gold Not everyone would associate Ethereum with investing in gold, but that is exactly one of its uses. Using a process developed by Digix, users can use tokens to buy gold on the Ethereum blockchain. How does this work? Using the Digix app, you can exchange either Ether or fiat currency (real-life money) with gold tokens. This gold is linked to the Singaporean gold vault through a complex crypto-code. Whenever the user wants, they can switch their gold tokens for actual pieces of gold without needing to go through an intermediary or paying any large fees. This also opens up the possibility of creating similar processes for all sorts of commodities.”
– Ikuya Takashima, Ethereum: The Ultimate Guide to the World of Ethereum, Ethereum Mining, Ethereum Investing, Smart Contracts, Dapps and DAOs, Ether, Blockchain Technology

21. “Stablecoins The ground is currently being laid to set the way for a new type of currency –the stablecoin. What is the stablecoin? The stablecoin is an asset that typically features price stability. Cryptocurrency is notoriously unstable, with volatile prices that are often difficult to predict. The advantage of them is that they give the user total control over their holdings. On the other hand, the US dollar is a great example of a fiat stablecoin, as it offers low volatility and so provides a reliable unit of money to invest in both the short term and the long term. However, the US dollar doesn’t give the user any form of control, as it is monitored by the Federal Reserve Bank and is dependent on the banking network in the US for commercial use. To get a combination of the two –full user control and reduced volatility –is an exciting prospect. Maker is a company that is currently working on a project to make this happen by creating a currency known as the Dai, which is set to become a stablecoin that combines user control with price stability. Social Networks”
– Ikuya Takashima, Ethereum: The Ultimate Guide to the World of Ethereum, Ethereum Mining, Ethereum Investing, Smart Contracts, Dapps and DAOs, Ether, Blockchain Technology

22. “Back in 2015, a volunteer group called Bitnation set up something called the Blockchain Emergency ID. There’s not a lot of data on the project now, BE-ID – used public-key cryptography to generate unique IDs for people without their documents. People could verify their relations, that these people belonged to their family, and so on. It was a very modern way of maintaining an ID; secure, fast, and easy to use. Using the Bitcoin blockchain, the group published all these IDs on to a globally distributed public ledger, spread across the computers of every single Bitcoin user online – hundreds of thousands of users, in those times. Once published, no government could undo it; the identities would float around in the recesses of the Internet. As long as the network remained alive, every person’s identity would remain intact, forever floating as bits and bytes between the nations: no single country, government or company could ever deny them this. “That was, and I don’t say this often, the fucking bomb,” said Common, In one fell swoop, identities were taken outside government control. BE-ID, progressing in stages, became the refugees’ gateway to social assistance and financial services. First it became compliant with UN guidelines. Then it was linked to a VISA card. And thus out of the Syrian war was something that looked like it could solve global identification forever. Experts wrote on its potential. No more passports. No more national IDs. Sounds familiar? Yes, that’s the United Nations Identity in a nutshell. Julius Common’s first hit – the global identity revolution that he sold first to the UN, and then to almost every government in the world – was conceived of when he was a teenager.”
– Yudhanjaya Wijeratne, Numbercaste

23. “Bitcoin is often mistakenly characterized as “anonymous” currency. In fact, it is relatively easy to connect identities to bitcoin addresses and, using big-data analytics, connect addresses to each other to form a comprehensive picture of someone’s bitcoin spending habits.”
– Andreas M. Antonopoulos, Mastering Bitcoin: Unlocking Digital Cryptocurrencies

24. “An intelligent investor sees an opportunity in dip than risk.”
– Mohith Agadi

25. “There is a striking parallel between the emergence of the modern state and the goals of the technology we have discussed in this chapter. In scaling society up from tribes and small groups, governments have had to confront precisely the problem of enabling secure commerce and other interactions among strangers. The methods may be very different, but the goal is a shared one. Although a maximalist vision for decentralization might involve dismantling the state, this is not really a viable vision, especially when others who share our democracy want a state. However, decentralization through technology is not necessarily in opposition to the state at all. In fact, they can be mutually beneficial. For example, assuming well-identified parties, transfers of smart property can use the block chain for efficient transfers and still use the court system if a dispute arises. We think the big opportunity for block chain technology is implementing decentralization in a way that complements the functions of the state, rather than seeking to replace them. It”
– Arvind Narayanan, Bitcoin and Cryptocurrency Technologies: A Comprehensive Introduction

26. “By investing in anonymous cryptocurrencies, you are buying ‘insurance’ against a recession, as the value of the cryptocurrency could increase significantly if the economy falters and the black market grows.”
“The darknet marketplace will continue to grow and with it will grow the demand for anonymous cryptocurrencies.”
– Will Martin, Black Market Cryptocurrencies: The Rise of Bitcoin Alternatives That Offer True Anonymity ‘

27. “The private key must remain secret at all times, because revealing it to third parties is equivalent to giving them control over the bitcoins secured by that key. The private key must also be backed up and protected from accidental loss, because if it’s lost it cannot be recovered and the funds secured by it are forever lost, too.”
– Andreas M. Antonopoulos, Mastering Bitcoin: Unlocking Digital Cryptocurrencies

28. “Any cryptocurrency can be used for one thing and one only: gaining access to the Blockchain Platform. The power and capabilities of this platform determine the value of each cryptocurrency, this is what cryptocurrencies are backed by: not gold, not silver, not a government system, but by their Blockchain platform.”
– Chris Lambert, Cryptocurrency: How I Turned $400 into $100,000 by Trading Cryptocurrency for 6 months

29. “Social Networks Censorship on social media is common, especially on forums. Some companies are working to create a type of decentralized online community that operates on an open source code. This means that it will be built on smart contracts that will eliminate censorship. Whether this is good or bad is subjective, but it serves to show the diversity of smart contracts and blockchain applications. One example of an Ethereum-based social network is Akasha. Akasha lets users publish, share, and vote for work that has been published on its platform. It aims to provide a decentralized option that gives an alternative to services such as Medium and WordPress. The system works by giving monetary incentives in the form of Ether to users to encourage engaging and rich content. Insurance”
– Ikuya Takashima, Ethereum: The Ultimate Guide to the World of Ethereum, Ethereum Mining, Ethereum Investing, Smart Contracts, Dapps and DAOs, Ether, Blockchain Technology

30. “In the same way that central banking nearly wrecked the world and created one calamity after another, bitcoin can save the world one transaction at a time.
It is time for a new beginning.”
– Jeffrey Tucker

31. “I think bitcoin has about a 1 in 100 chance of being a survivor. So I have 1% of my portfolio in bitcoin.”
– James Altucher, The Choose Yourself Guide To Wealth

32. “On July 16th, 2014 this book became the world’s first documented product to be sold on a decentralized marketplace.”
– Will Martin, Black Market Cryptocurrencies: The Rise of Bitcoin Alternatives That Offer True Anonymity

33. “Bitcoins are not illegal in and of themselves and have known legitimate uses,” the FBI agent, who drew up the complaint, wrote. This brief sentence was one of the strongest statements to date about the legality of Bitcoin in the United States—and it came from one”?
– Nathaniel Popper, Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money

34. “From the beginning, Satoshi envisioned a digital analog to old-fashioned gold: a new kind of universal money that could be owned by everyone and spent anywhere. Like gold, these new digital coins were worth only what someone was willing to pay for them—initially nothing. But the system was set up so that, like gold, Bitcoins would always be scarce—only 21 million of them would ever be released—and hard to counterfeit. As with gold, it required work to release new ones from their source, computational work in the case of Bitcoins.”
“The root problem with conventional currency is all the trust that’s required to make it work,” Satoshi wrote. “The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.”
– Nathaniel Popper, Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money

35. “Imagine if the population were to discover, through real life experience, what it is to conduct their lives with a currency that does not lose its value, but in reality gains in value. As our economy grows and as our manufacturing capabilities increase, prices go down. The only reason that prices are not going down today—except in products where improvements are very rapid (e.g., computers)—is because of government-caused currency inflation.”
– Phil Champagne, The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto

36. “There are almost 200 currencies of the world, but there’s only one international currency. There are almost 200 currencies controlled by central banks and governments, but there is only one mathematical currency today, and that is bitcoin. We are going to build more of them. Cryptographic currencies are going to be a mainstay of our financial future. They are going to be a part of the future of this planet because they have been invented. It’s as simple as that. You cannot un-invent this technology. You cannot turn this omelette back into eggs.”
– Andreas M. Antonopoulos, The Internet of Money

37. “Key Points: ? Transparency – Blockchain offers significant improvements in transparency compared to existing record keeping and ledgers for many industries. ? Removal of Intermediaries – Blockchain-based systems allow for the removal of intermediaries involved in the record keeping and transfer of assets. ? Decentralization – Blockchain-based systems can run on a decentralized network of computers, reducing the risk of hacking, server downtime and loss of data. ? Trust – Blockchain-based systems increase trust between parties involved in a transaction through improved transparency and decentralized networks along with removal of third-party intermediaries in countries where trust in the intermediaries doesn’t exist. ? Security – Data entered on the blockchain is immutable, preventing against fraud through manipulating transactions and the history of data. Transactions entered on the blockchain provide a clear trail to the very start of the blockchain allowing any transaction to be easily investigated and audited. ? Wide range of uses – Almost anything of value can be recorded on the blockchain and there are many companies and industries already developing blockchain-based systems. These examples are covered later in the book. ? Easily accessible technology – Along with the wide range of uses, blockchain technology makes it easy to create applications without significant investment in infrastructure with recent innovations like the Ethereum platform. Decentralized apps, smart contracts and the Ethereum platform are covered later in the book. ? Reduced costs – Blockchain-based ledgers allow for removal of intermediaries and layers of confirmation involved in transactions. Transactions that may take multiple individual ledgers, could be settled on one shared ledger, reducing the costs of validating, confirming and auditing each transaction across multiple organizations. ? Increased transaction speed – The removal of intermediaries and settlement on distributed ledgers, allows for dramatically increased transaction speeds compared to a wide range of existing systems.”
– Mark Gates, Blockchain: Ultimate guide to understanding blockchain, bitcoin, cryptocurrencies, smart contracts and the future of money.

38. “Anything that is in the world when you’re born is normal and ordinary and is just a natural part of the way the world works. Anything that’s invented between when you’re fifteen and thirty-five is new and exciting and revolutionary and you can probably get a career in it. Anything invented after you’re thirty-five is against the natural order of things. – Douglas Adams”
– Brian Patrick Eha, How Money Got Free: Bitcoin and the Fight for the Future of Finance

39. “cryptocurrencies such as Bitcoin and anonymous online markets such as the Silk Road. Digital cryptocurrencies provide an individual with an array of benefits unlike anything the market actor has ever experienced. They provide a means by which one may transfer wealth securely, anonymously, and with virtually zero transaction costs. Naturally, this allows one to safely avoid taxes in the course of a transaction as there is no means by which said transaction may be traced backed to him. More importantly however, the use of such digital currencies normalizes the idea of using private currencies to the general public. The State’s status as the sole producer of money is one of its greatest sources of legitimacy and power; thus, the proliferation and expanding use of private currencies constitute effective means by which State rule may be peacefully undermined.”
– Christopher Chase Rachels, A Spontaneous Order: The Capitalist Case For A Stateless Society

40. “This is the reality in just 15 years: we will no longer talk about computers, the internet, digital, mobile or suchlike, as it’s now just part of life. You won’t think about Googling something, you will just think the question and the answer will materialise in your head. You won’t consciously separate life and technology, as the technology will have now become a part of you. That”
– Chris Skinner, VALUEWEB: How fintech firms are using bitcoin blockchain and mobile technologies to create the Internet of value

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