December 5, 2023

Tim Draper: “Bitcoin will end the rule of dictators”

Renowned investor and cryptocurrency enthusiast Tim Draper believes Bitcoin will change the wayThere are governments around the world.

In his Medium post, Draper named Bitcoin"startup currency" and praised its decentralized nature, which does not imply any boundaries. He noted that the first cryptocurrency was created to unite the world.

“With Bitcoin and the technology on which itbuilt, geographical boundaries are becoming less important. We are no longer dependent on the grace of dictators and governments and can develop the global economy. In the long run, I believe that we will become one world when it comes to business and the economy, ”said Draper.

The investor has blamed those who create barriers toThe spread of Bitcoin is that they cling to an outdated communal system, which, in his opinion, should die. Draper said attempts to limit Bitcoin are more like attempts to overthrow the king from the throne.

“Now we hear statements by political leaders,opposed to cryptocurrencies, but this is only the dying cry of people who cling to the past when the world lived in separate communities, ”said the cryptocurrency enthusiast.

He also described the global insurance system, inwhich payments will occur in bitcoins, and claims for an insured event will be filled out with the help of smart contracts and tracked by artificial intelligence. Draper believes that pensions can also be transferred to smart contracts - then pensions will not depend on the will of politicians.

Let us remind you that after the appearance in Indiabill to ban cryptocurrencies, Draper sharply criticized the country's government. In particular, he stated that “the Indian government is pathetic and corrupt.”