Bitcoin and crypto are poised to speed up globalization and the decentralization of industries, making them immune to questionable government economic policies, according to tech venture capitalist and BTC bull Tim Draper.
During the most recent LA Blockchain Summit, Draper speaks about how the massive global transformation ushered in by the Internet is making borders meaningless. Now, Draper says Bitcoin is about to change everything from real estate to banking.
“When bitcoin came along, all of a sudden, we had a currency that we could use globally and one that we could have faith in even if a government for instance printed 13 trillion dollars, we could still have a currency that would not dilute.
And that was the beginning of something that I think is going to be a major change in the world. And I think the world is going to go through an anthropological leap because we realize we used to be tribal, and that was sort of a way of being secure. We’d say, ‘Okay, this is the border, don’t cross this border and our people will be safe.’
Well now we realize that the borders are becoming more and more meaningless and the decentralized world becomes more important and it will be everything from banking to insurance to real estate to governance that are gonna change and become decentralized around the world and that’s gonna make us global, completely global.”
The world is going to see an amazing globalization in the next 20 years, Draper says. Although he expects that there will be forces in the government that are trying to cling to a past where nationalist and isolationist ideals were seen as virtues, Draper believes they can’t stop the world from moving forward.
“Those barriers are bad for us. But they’re also really just kind of the roar of the dying lion as we move to this new world. And it’s very exciting. And then if you break down crypto, it starts with Bitcoin and it starts with a currency, and a blockchain, and a smart contract. And then it moves to DeFi (decentralized finance), where all the things that are happening with dollars today now can start to happen with crypto.
From there, I think you move to the e-commerce world where open node and others like it can bring it so that the merchants can tap Bitcoin. I think that those are the three stages and once those stages are done and it’s easy to use and the world opens up, we are going to have a truly crypto, decentralized, open-world.”