Blockchain

“Blockchain for agent payments. Blockchain is, is in the valley of disillusion right now. It's like, it's really in a bad spot.”

“I think it's going to be that intersection between probably what blockchains will do and AI will do, because you will need to have intelligent smart contracts that will do stuff on your behalf”

“We do use some blockchain technology where as the drones are flying, we're creating like, you know, real-time NFTs to sort of generate an authentication layer because our system is flying the drone.”

“Everything is, is traced on the blockchain. Like, crypto is a terrible place for criminals to move money because it's actually traceable on the blockchain. US dollars or any hard currency is much easier to be able to do nefarious things than having a currency …”

“Are you gonna trust Google? Are you gonna trust Meta? Are you gonna trust the US government? I think you wanna trust the kind of mathematical game theoretic properties Of the blockchain. So I think that's going to be just a very, very important part of the inf…”

“So I think right now the crypto industry is, to be honest, is too transparent. It's actually extremely easy to track crypto funds. like the blockchain is a public ledger. And then if you couple that with a couple, a few centralized exchanges, KYC information,…”

“The other idea that we were really excited about back then was this idea of programmable money and the idea that eventually these networks Blockchains would become like operating systems, and you could actually have machines that intermediate economic activity…”

“But for you and I, Ted, to build anything of value outside of creating tokens and moving tokens, you need to bring reliable data into that blockchain system in a decentralized way. Because if we just relied on a single API, that API could fall over, and the ap…”

“Keep in mind, blockchains don't understand time. None of them are on the same page as far as it's 2:40 p.m. Eastern Standard Time right now. All they understand is how they're programmed and they give strong guarantees about how they're going to operate. Over …”

“In our view, agents will most likely soon be responsible for most internet transactions, and will likely need blockchains that support more than a million, or maybe even more than a billion, transactions a second.”

“So Coinbase established an independent advisory board on quantum computing and blockchain.”

“Like, the financial system, although they probably don't want to talk about it, does have the ability to, like, effectively roll back, so if there was, like, some massive quantum hack, and, like, all the Morgan Stanley, or JP Morgan accounts, or Goldman Sachs …”

“It was always a technology looking for a problem. The use cases were few and far between. Also, there was an element of it where there were all these meme coins, and it wasn't solving any true productivity gains. We thought that was somewhat of a false S curve…”

“If you self custody your stocks, you're immune to outages from the broker. You can just sort of like easily replace one brokerage for the other, and you don't have to The blockchain would have to be down for you to lose the ability to trade, which I think is v…”

“There's the blockchain stuff that doesn't really make sense to me. I'm a big, big fan of crypto, but it's like, crypto exists, like, if you're trading things that are purely in that are purely digital, works great. If you're saying, I'm going to represent some…”

“There's not a world where there's like a JP Morgan chain and a Stripe chain and a Bank of America chain and there's like a thousand, you know, unique company, company blockchains. That's not going to happen.”

“Chase, I think Jamie, Jamie Dimon talks trash, but I believe they have 1500 people on blockchain projects.”

“But I do think You know, in this world where we need trust, yeah, like, those, that's the right set of ideas. We need ideas like that in others, right? Like, you know, something that is always touching on is like, you know, AI-powered audits. Can, like, two di…”

“Finally, a use for the frickin blockchain that's standalone and independent of its kind of a trading asset.”

“The most powerful thing is taking inaccessible, illiquid assets and making them available.”

“Today the commerce department did something that was pretty exceptional. They said, we're going to start publishing data to the blockchain. All the GDP data is now going into a blockchain.”

“But what's happening now with Farcaster and other kinds of things is with the increase in block space, you could put more and more kinds of data on chain, and we're going to have to because you're going to need crypto instruments, and you're going to need cryp…”

“We have some traditional assets in a box. We tokenize that one for one, and the tokens actually get put on blockchains where they're tradable.”

“It's a kind of technology that inverts the power relationship between the software and the hardware. Whereas historically, the hardware has always had power over the software because whomever controls the hardware can turn off the software or change it in some…”

“AI creates digital abundance, and blockchains are good at enforcing digital scarcity. And I think you're gonna see more and more synergies emerge and use cases over time”

“I think that was part of the charm of blockchain, was trying to figure out how to help people get paid, but blockchain also did a really bad job of it because the companies didn't know how to be profitable and or didn't understand how economics work.”

“You imagine a world, which I think we're headed to pretty soon, in a couple of years, we have all these different AI agents running around... And then you sort of imagine other agents coming along and negotiating and, you know, pennies getting transferred back…”

“The point is not for like decentralization and kind of this new architecture of blockchains for its own sake. The point is they have specific benefits. So like, why, why would one build on a blockchain like Ethereum or Solana as opposed to a traditional, You k…”

“There's a lot of interest from the banks to think about ways to use blockchains to create essentially marketplaces there, you know, maybe permissioned marketplaces where only kind of certain participants can participate. For them, the benefit is, you know, why…”

“If AI, you know, is solving all the problems in the world that, that they need more intelligence, right? Blockchains try to solve the problems in the world that need more coordination or more, you know, kind of collective collective action, getting a bunch of,…”

“We're experimenting with, you know, what we listed our first fund on blockchain with five different protocols, and we're tokenizing the fund, where I think funds will actually trade. And even though they're quarterly liquid, they'll trade every day, three 65, …”

“So you can now send an arbitrary amount of money anywhere in the world for under one penny in 1:02.”

“So like watch MCP I would expect would have down the road a payment standard, right? And AI agents. So you imagine a world, which I think we're headed to pretty soon in a couple of years, we have all these different AI agents running around... And pennies gett…”

“I think blockchains, I think we no longer have infrastructure as an excuse anymore. Like now it's about building applications, about getting regulatory clarity. And I think we're pretty far along there. I think we have a long way to go fully exploring kind of …”

“I think that's one broader way to think of blockchains is like, it's like if AI, you know, is solving all the problems in the world that, that they need more intelligence, right? Blockchains try to solve the problems in the world that need more coordination, r…”

“So I actually think like most traditional securities are going to get tokenized on chain in the next five years.”

“Blockchains are three trillion dollar asset class. Total assets globally are 600 trillion. So it's 50 bips of global assets.”

“There's a surplus of block space, so there's a surplus of blockchains that you can use that are fast and cheap today. It's not really the bottleneck. The bottleneck is figuring out user experience, regulatory, understanding of KYC, AML, and making sure these p…”

“80% of all transactions on blockchains involve a stable coin in one way, shape, or form.”

“Well, we think the major users of blockchains just may be AI agents themselves.”

“And AI agents cannot open a bank account. You have to be a human or a company to open a bank account. But if you're an AI agent and you want to send micropayments to other AI agents or micropayments to humans, that's really not possible on traditional banking.…”

“I think web three in the way that it was meant to be done. Is going to make a comeback because fundamental principles of that makes sense.”

“You don't need your own chain. You don't need to have an ICO. You don't need to distribute tokens to people because they've performed some action in your system. You don't need any of that. You can have a profitable business in the blockchain industry. That's …”

“I think that Those are the buzzwords today that, like, blockchain was a year ago, and that big data was a year ago.”

“The biggest challenge in that is that they are using Ethereum and other blockchains that don't have the speed that are able to keep up with the way that tickets are going to be transacted digitally.”

“But I think the blockchain is a paradigm shift. I mean, there is the mobile computing paradigm shift. There was the cloud computing paradigm shift. I think the blockchain is a new paradigm shift.”

“I don't want to necessarily invest in Blockchain. I want to invest in a company that has a cool application that happens to be using blockchain to enable it.”

“There's a huge opportunity at the intersection of AI and blockchain, so that's one of our themes for our second fund as well.”

“Every software company, every product that will be built for a user that's That on a computer will have data as its fundamental building blocks, and so we invest in data systems, databases, visualization. We invest in AI, both at the infrastructure and the app…”

“One of the stats that I heard was, you know, less than single digit percentage of deep tech founders People working on AI blockchain are women.”

“The thing that lost me was when everybody was arguing that, that what we should do is decentralize all of the infrastructure of the internet. That's just literally, it just costs more to then run every internet service. And it's actually not a very good databa…”

“This is where global financial markets get rewired onto blockchain based rails. And when that happens, it means that every single person in the world, when that's fully complete, will have a digital wallet on their phone.”

“The thing that lost me was when everybody was arguing that, that what we should do is decentralize all of the infrastructure of the internet. That's just literally, it just costs more to then run every internet service. And it's actually not a very good databa…”

“Particularly if we get better blockchain crypto regulation, that we actually have a very good technological approach particularly for politicians and people in, you know, public figures to basically digitally sign content they're in, put it on the blockchain, …”

“I'm really enthusiastic about it, but we've only made two or three investments in the blockchain arena.”

“When, like, when Bitcoin came along and these technologies, like, I tried that as well. I personally didn't find the technology to solve a real problem. In my opinion, I didn't see how it was gonna help my mom prefer using Klarna Over something else. Like, I m…”

“We think you're going to blockchain the farm is what we're calling in our world. You know, you're going to blockchain a farm, meaning the fertilizer companies and the input companies are going to have to report all that. And you're going to know what was put o…”

“You can have a blockchain-based solution, which we have pioneered to ensure fair play, that there's no tempering going on behind the scenes of algorithm, RNGs, bots, nothing like that.”

“You know, we're one of the other companies that we're actually building is a private debt marketplace. And that private that marketplace is going to be built within blockchain.”

“Saying that crypto and blockchain would replace the corporate entity. Like, and that marketplace companies like Uber wouldn't exist and all this stuff. Like, and that just didn't play out. And I don't think it's going to, you know, I'll go out on a limb.”