Derek Schloss

“that the fault has not been in the wheel, but in the ignorance of proportion, velocities, powers, and possibly mechanical combinations.”
― Bhu Srinivasan, Americana: A 400-Year History of American Capitalism

“The distributed ledger cannot be edited, even by an individual who holds all of the access keys. The stockholder record can be appended, but retroactive adjustments to the record cannot be made. This process generates a highly dependable audit trail that clearly—and indisputably—indicates how each stockholder acquired stock and from whom. That trail would be essential in a court of law, should a plaintiff dispute who the stockholders were at a given moment.”
― Alex Tapscott, Financial Services Revolution: How Blockchain is Transforming Money, Markets, and Banking

“With the now-ubiquitous side paddle wheel, the Citizen was smaller than Fulton’s original, but it was Vanderbilt’s own a full eleven years after meeting Thomas Gibbons for the first time. Back then, he had willingly given up his entrepreneurial independence to enter a field he could not otherwise afford to. Now he was his own man”
― Bhu Srinivasan, Americana: A 400-Year History of American Capitalism

“Gibbons v. Ogden went on to become the landmark case affirming that only the federal government had the right to regulate interstate commerce. Waterways and roads connecting states all fell within the framework, as ruled by the court: The era of monopoly grants was over. Indeed, it fell upon the native southerner Gibbons, a plantation owner from Savannah, to affirm the superiority of federal rights over the states’ rights in matters of interstate commerce. •”
― Bhu Srinivasan, Americana: A 400-Year History of American Capitalism