Tim Draper: Bitcoin will change how Governments operate

Tim Draper, a popular venture capital investor, stated that he expects Bitcoin (BTC), among other technologies, to change how governments function worldwide. In a recent medium post, Draper calls Bitcoin “the startup currency” and compliments its decentralization and borderless nature. He is affirmative of BTC bringing the world together:

“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 likened governmental attempts to censor Bitcoin as the “roar of a falling king.”

“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 also highlights the idea of a global health insurance policy. He believes that the approach is more effective and efficient than current offerings “where the premiums are in bitcoin and the claims are settled to the letter with smart contracts and monitored by artificial intelligence.”

He also portrays his idea of a pension that does not depend on the decision of political leaders, but instead “is simply a form of fixed smart contract.” Draper concluded:

“Bitcoin brought with it a few fundamental technologies that can accelerate our transformation from a tribal planet to a global one.”