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.

We know that flat and non-hierarchical systems use information best. I've tried to do that with my own company because it works better that way. And society at large will work better as well if we can get rid of these old institutions and hierarchies. New innovations like the block chain can make this possible.

The virtues of the blockchain is that it would be that it's peer-to-peer settlement - no centralized settlement, no manipulation... And most importantly, there's nothing to capture. It's consensus based. It's stateless.

Patrick M. Byrne Quotes