Patrick Byrne, well renowned crypto enthusiast and CEO of Overstock has made some surprising and bold claims on what he thinks blockchain technology is set to amount to in the future. In a recent interview with Bitcoin.com, he set crypto critics straight when he talked about the immense potential crypto related projects and blockchain tech and had to offer.
For Byrne, it was all about the peer to peer and decentralized autonomy that blockchain offered in an otherwise global capitalistic economy.
He took it a step further when he stated that blockchain was “bigger than the Gutenberg press and bigger than the internet.” Surprised? we certainly were. However Byrne backed this statement up when he added,
I think that a 1000 years from now…this revolution is going to be bigger than the Gutenberg press, bigger than the internet. It’s changing the way humans interact. Instead of creating third-party institutions which are corruptible, we’re reducing things to mathematics and cryptographically protected algorithms.
Byrne who is also the CEO of tZero which according to it’s website aims “to fundamentally revolutionize capital markets and truly address the inherent inefficiencies of Wall Street so that financial processes and investors are less beholden to legacy market structures.”
The premise behind tZERO is Bryne’s initiative to combine his know how of the capital markets and integrate that with blockchain based solutions to inculcate a better understanding traditional markets.
In an earlier interview in 2018 at the Beyond Blocks Summit Byrne stated that the aim behind tZERO was to establish “new version of Wall Street”
We’re trying to create a new version of Wall Street based on the blockchain – one that is fair and provably fair…so we started out by buying a node in the center of Wall Street and building out, and it’s built on top of an SEC registered broker deal.
Byrne’s Overstock has been involved with blockchain tech since 2014 when they were one of the earliest adopters and became one of the first to offer the option for crypto payments. In other excting news tZERO is set to launch it’s app later this year in June.