Mon Nov 02, 2015 5:51 pm

What do you think will be the real impact of Circle 1, 5, 10 years down the road? What happens to Circle if Bitcoin flourishes, and subsequently, what if Bitcoin dies?

When Sean and I started this project in early 2013, we felt like we were entering a period of transformation that would take at least 10-20 years to really unfold. While it feels like things are moving fast if you are embedded within the space, in reality these changes take a very long time. Keep in mind that e-commerce in the US is still just like 5% of retail sales, some 20 years into its development. And online video viewing is also single digit % of viewing hours compared to legacy broadcast platforms, etc. If in 10-20 years, global digital currency platforms account for 5% of consumer payments flows, I think it will have been an enormous success.For Circle specifically, right now we're very heads down and focused on innovating on how consumers experience holding, sharing and using money for personal payments, group payments and a lot of other things. We're not interested in iterating on bank-like experiences, rather we're interested in building experiences that build on how people have learned how to share messages and content on the internet.We're certainly very long on digital currency, though I expect we'll go through many evolutions and changes from where we are today with Bitcoin Core and the existing bitcoin blockchain before we reach real critical mass. We certainly plan to be around to be part of all of that.Jeremy