blockchain

“The initial versions of security tokens are going to be plain vanilla issuances. We're going to take, like, the simplest version of representing an ownership claim in one of these assets and represent it on chain, and those will be kind of the test cases, righ…”

“I call blockchains computers that can make commitments. And so what that means is you write some software on the Ethereum computer and you can write some software that says, I'm going to build a social network. And on this social network, I'm going to commit t…”

“A lot of the thesis we have with crypto blockchain is that a similar thing will happen with internet services in the same way that almost all software today is made by a group, a community of people who get together and build something. We think the same thing…”

“I would say the short answer is somewhere between one and five years.”

“And that's actually what we think blockchain and crypto is going to look like going forward. Mainstream users don't have to know that they're interacting with a blockchain. What's really cool is like in the future, we envision they'll get all of the benefits f…”

“I'd say everything in crypto is kind of solidly in that quantum mental bucket because you have a lot of real time data that's visible on the blockchain.”

“In one sense, you could argue that blockchains actually make the job of forensics a lot easier because all the information is publicly accessible and available to anyone.”

“NFTs are a way to make digital files ownable. Instead of a financial asset, you can now own a digital media asset on the internet. And that's why the file metaphor is apt. You can now own a JPEG, own an MP three. And what you're essentially doing when you crea…”

“And the fact that somebody had owned this so early on, it's almost become the status symbol where people want to demonstrate that they can prove their ownership Really early on in this space. And so that ownership history also really matters. Being able to dis…”

“Contrast that with royalties in the music industry, which is like a completely opaque system with many layers of middleman that are each taking a cut, right? It's a wildly more efficient architecture. That's uniquely made possible by blockchains and smart cont…”

“Like this could be a game changing technology but the destruction of capital because of so much money flowing in, we could all be changing how we trade, how we clear, how we transact, how we communicate, but it's not clear any of us will have made money on tha…”

“We have done a decent amount of investing, including venture investing in blockchain and DeFi.”

“If I didn't know what the blockchain was, I wouldn't be able to say that it'll help the labor shortage because of the transaction That we're not going to be able to do in the way that we had. I think the blockchain is going to change all that.”

“Over the course of the next two years, I fully expect people to realize that decentralization will allow certain emerging markets to leapfrog. Because they will put it to work faster.”

“Given both the explicit technical costs and then the softer, squishier social developer experience costs, I think gravity trends towards one chain.”

“One, we thought about it offensively in the sense that we thought this was a sector where our limited partners could make a lot of money, but we also thought about it defensively, that if this was in fact a fundamental technology, which we think it is, that it…”

“And so right now I hear the word constantly, we're in the early innings, but crypto has been going on since 2008 now, so we're 14 years into it. And there still isn't really a core use case other than speculation and capital raising. There's no businesses that…”

“This is a 10, 15, 20, 30 year kind of out thing. We need to get to the point where this technology is scalable enough to be able to handle transactions at a much faster rate. But it looks like, based on these adoption curves, we will get there eventually, and …”

“In the 2016, 17 traditional venture capital vintages, you saw some managers having exposure to blockchain, either blockchain companies or even Bitcoin on some occasions.”

“I think that every blockchain in the long term needs to have a tightly coupled mechanistic value accrual mechanism between use of the system And the price of the asset.”

“In blockchain web three, there's been very, very few cases of people spending significant money on customer acquisition. One of the exciting things of web three is that the users, because they have tokens, because they have ownership, they become evangelists f…”

“When you integrate with the New York Stock Exchange, say that you have Amazon stock, and one day you have Amazon stock, and you integrate with the API, and you can trade it, and if Square, say, IPOs tomorrow, then you now just have a new ticker, and it's the s…”

“I do think that it's likely that the new wave of technology innovation is happening on blockchains. The applications that we're using every day, the most powerful ones, 20 years from now may well come out of this web three ecosystem. But I think that's a decad…”

“We're also seeing firms, and most recently KKR just announced this. Apollo also announced one. Hamilton Lane as well. They are tokenizing interests of their funds and putting them on the blockchain.”

“However, on our platform, it is a highly engaged, if not the most engaged educational content on our platform, but there's no correlation to the follow through of capital into those strategies.”

“And today I think it really under appreciated under discussed aspect of the technology world is that the vast majority of software that runs in the world is open source software, which was a movement that was dismissed much like blockchains are today, 20 years…”

“So blockchain is the best of both worlds. So you get the societal benefits of protocol networks where users and software developers and creators have rights and agency and economic benefits, but you also can do a lot of the advanced things that led corporate n…”

“In some ways, you can think of a blockchain as a political solution. It's a way to recruit great engineers, because they want to work on it, and there's a financial model to incentivize them, and it's neutral. So all these different 10 institutions that maybe …”

“I think AI, for example, is sustaining. I think blockchains are disruptive. Blockchains are very, very hard to respond to.”

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

“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.”

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

“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…”

“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.…”

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

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

“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…”

“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 …”