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“Bitcoin Can Change How Governments Operate Worldwide”, Claimed Tim Draper

By Robin Wong | October 14, 2019

Tim Draper – the famous US-based venture capital investor – has shared his belief that Bitcoin (BTC) – when accompanied by different tech – can revolutionize the existing way governments are functioning. 

Reported by Medium on October 10, Draper gave Bitcoin the title “the startup currency”, along with expressing admiration towards its decentralization and borderless nature, claiming his faith in the digital coin’s power to unite the world. 

“With Bitcoin, and the decentralization that comes with Bitcoin, geographic borders have become less relevant. No longer are we at the mercy of dictators and toll trolls to grow the world economy. […] In the long-term I believe with regard to business and economics, we are, more than ever, one world.”

Draper also criticizes individuals that dismiss Bitcoin’s clutch to tribalism, together with emphasizing the dying state of tribalism. He further used the comparison of a falling king to the efforts to withhold power. 

“Tribalism is dying. And like the dying roar of the king of the jungle, we are hearing political leaders beat their chests as they try to cling to the power they once wielded when the world was still only tribal.”

Draper further brought up the possibility of a health insurance policy on a worldwide scale – with enhanced efficiency and effectiveness compared to existing offering – “where the premiums are in bitcoin and the claims are settled to the letter with smart contracts and monitored by artificial intelligence.”

He also provided details regarding his vision of a pension, independent from the decision of political leaders, but instead “is simply a form of fixed smart contract.”

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