Billionaire Tim Draper believes that the ultimate impact of cryptocurrency will extend far beyond the world of finance. So how will cryptocurrencies change the future?
In fact, Tim Draper pointed out to famous crypto analyst Scott Melker that the price of BTC will continue to rise. As Bitcoin radically changes those various elements of society.
Primarily, Tim Draper expressed that cryptocurrencies will change finance, insurance, government, and healthcare. Specifically, the impact of Bitcoin on finances will reduce corporate expenses on accounting and legal aid.
“We have a combination of technologies that are going to transform not only banking, but also finance. I can imagine a time when I raise a fund in Bitcoin only, invest it all in Bitcoin. “
Furthermore, he added: “I imagine companies paying their employees and suppliers, all in Bitcoin. Let everything be a walled garden where taxes on Bitcoin are eliminated.
Tim Draper and how to transform industries
Timothy Cook Draper, better known as Tim Draper, is a venture capitalist and founder of Draper Fisher Jurvetson (DFJ), Draper University, Draper Venture Network, Draper Associates, and Draper Goren Holm.
As is known, there are many people who can tell us about the benefits and benefits of BTC. This is the case of Tim Draper, one of the most optimistic about Bitcoin.
Specifically, he has commented that the idea of a world where digital was important came when he met a Korean businessman. That he paid someone to play online for him, in the time he was working.
“That meant to me that there would be a virtual version of everything. Virtual real estate, virtual health care, virtual money. ”So by the time Bitcoin appeared, he had been around the idea for a long time.
Thus, his interest deepened until the opportunity to buy BTC in large quantities came. At an auction by the United States Marshals Corps.
The insurance company and smart contracts
Following in the interview with Scott Melker, Tim Draper believes that insurance companies will be able to completely rely on Artificial Intelligence and surveillance. Which would reduce disagreements on insurance claims.
“In fact, I could imagine an insurance company sending you a check before you issue a claim. For example, because the surveillance has recognized that your house has been burned.
Similarly, Draper believes that Bitcoin and smart contracts could offer similar benefits to governments around the world. What is the government but a bunch of insurance companies put together? That government can also be much more streamlined. You can set them up in a Smart Contract with Bitcoin. And they are completely fair.
Finally, he indicated that health care records can go on Blockchain technology. Since it is going through a great transformation.
I say goodbye with this phrase from Tim Draper: “Bitcoin is the winner.”