Tim Draper: Bitcoin will provoke a revolution

Prominent Bitcoin investor and billionaire Tim Draper expects Bitcoin to revolutionize workgovernments around the world. According to him, they will have to adapt in order to maintain at least minimal control over digital currency.

In his interview, Tim called Bitcoin "a currencystartups" and praised the technology he uses. The venture capitalist believes that with Bitcoin and distributed ledger technology, geographic boundaries don't matter. 

He emphasized that thanks to decentralization, peoplecan no longer be at the mercy of “dictators and financial trolls.” Thanks to digital currencies, decentralization has reached a higher global level. This will ultimately make the global financial community unified. 

Tim believes that financiers who oppose Bitcoin are “clinging to the power they had in an outdated communal system.” 

He noted that the traditional banking system is dying, but political leaders are trying to support it by convincing everyone of its decentralization. 

Tim also believes in the idea of ​​a global system.insurance more effective than the current option. In this new system, insurance policies will be filled out using smart contracts, tracked by artificial intelligence, and payments will be made to the MTC.