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Patrick Byrne: Blockchain revolution «bigger than the Gutenberg press»

Patrick-Byrne-Blockchain-revolution Patrick Byrne | Head of Overstock

The head of the American retail giant Overstock Patrick Byrne emphasized the blockchain's potential in the economy and said that in the future the invention of this technology would be equated with the creation of the Internet.

According to Patrick Byrne, the blockchain revolution we are currently seeing will be more important for future generations than the invention of the first printing press or the creation of the Internet.

"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," 

said the head of Overstock.

Byrne also noted that he sees six key sectors that the blockchain can transform — polling, personal identification, real estate sales, securities exchanges, banking services and supply chains.

Earlier, Patrick Byrne expressed the opinion that thanks to the blockchain technology, all government services can be made effective and free from corruption. 


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