A distributed ledger is basically a shared database that allows institutions to directly send and receive money in a trustworthy fashion without a middleman. As a result, we have the capacity to connect the world's payment systems for the first time.That's a big deal.

Banking now is like sending a letter: you send it, you don't know if it reached there. Ripple is more like sending an iMessage: you send it, and you immediately know.

We don't think the blockchain can do most of what's been ascribed to it. But we're entering the Internet of value - and that is very much underhyped.

Chris Larsen Quotes