One third of the economy goes through 'QuickBooks' in terms of businesses invoicing other businesses. Each invoice contains a connection between vendors, suppliers, and customers, and also the price of that connection. Representing the payment graph is huge opportunity and something no other company can do.
That's my actual payment, the fact that I can actually make something that I actually enjoy and put on repeat, and it's not related to anything else or anyone else's thoughts and ideas, it all came from me; I just love that aspect of it.
Crony capitalism is essentially a condition in which... public officials are giving favours to people in the private sector in payment of political favours.
There are no debt payments that can be sustained if the country does not grow.
When I was a student in Kazakhstan University, I did not have access to any research papers. These papers I needed for my research project. Payment of 32 dollars is just insane when you need to skim or read tens or hundreds of these papers to do research. I obtained these papers by pirating them.
2016 has proven to be the year where the most forward-thinking financial institutions are actually using blockchain technologies for payments and settlement rather than as an experiment.
Bitcoin solved the double-spend problem. The key problem was payment confirmation without central clearing. Bitcoin's solution was ingenious but wasteful - it's fairly slow, and you can't put other things on it.
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.
Low-value payments are now possible. Now, Ripple can make it easy for Facebook and Uber and Amazon to make payments to developers in real time. It's online and completely global.
Banks can send big corporate payments through existing channels or send a small payment through Ripple. They don't have to rip out existing infrastructure; they can use Ripple to make the transactions more profitable or more efficient.
