I call the blockchain 'the Internet of value' and 'the Internet of trust.' Because everything becomes trustless. It's a big distributed ledger. Think of it like an Excel file that's being maintained and updated and managed by millions of computers around the world.

In this quote, Brock Pierce refers to blockchain as both the "Internet of value" and the "Internet of trust." He is highlighting the transformative nature of blockchain technology, which allows for the secure transfer of value and information without the need for traditional intermediaries, such as banks or governments. The key concept he emphasizes is that blockchain makes transactions trustless, meaning that the system itself ensures trust through cryptographic methods, rather than relying on a central authority.

Pierce explains the blockchain as a distributed ledger, meaning it is a decentralized system where data is stored across multiple computers worldwide. The analogy to an Excel file being maintained by millions of computers helps make the concept of blockchain more relatable. In this system, each update or transaction is verified and added by a network of computers (often called nodes), ensuring that the data is secure, transparent, and tamper-proof.

The origin of the quote comes from Pierce's deep involvement in the world of cryptocurrency and blockchain technology. As a prominent figure in the cryptocurrency space, he has been an advocate for the potential of blockchain to revolutionize various industries, from finance to supply chains. His description emphasizes the key features of blockchain: decentralization, security, and trustlessness, which are foundational to technologies like Bitcoin and other cryptocurrencies.

Ultimately, Pierce's quote conveys how blockchain can radically change the way we think about transactions and data sharing. By removing the need for trusted third parties and enabling peer-to-peer verification, blockchain offers a new paradigm where value can be exchanged securely and transparently, all while building trust in a decentralized way.