While the bitcoin rate has lingered near the $5,300 mark, a well-known cryptocurrency enthusiastTim Drapernovamade an optimistic forecast for the development of the first cryptocurrency.
During the 415 Stories podcast, Tim Draper (TimDraper) emphasized that it is Bitcoin and other new technologies that will become one of the main tools for "transforming the world's largest industries." This will be especially noticeable when the global economy recovers from the current financial crisis. Bitcoin, unlike centralized currencies, will help many.
“When the world begins to recover, it is Bitcoin, and not banks and governments, that will save it,” the venture investor said.
Draper expressed confidence that suchTechnologies like Bitcoin and Artificial Intelligence (AI) have the potential to completely change many industries: from banking to medicine and real estate. As an example, Draper cited the insurance industry, noting that if you start an insurance company now, you need to implement smart contracts based on blockchain, AI and Bitcoin support.
“At the insurance company, I would use AI to identify fraud, smart contracts with bitcoins and put it all on the blockchain,” said Tim Draper.
Draper recently said that in 2019 he sold a significant part of the shares he owned and invested this money in his first cryptocurrency. He stated that he continues to believe in the prospects of bitcoin.
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