Billionaire and venture capitalist Tim Draper, famous for being a bitcoin activist, has praised Bitcoin for breaking the world’s borders and acting as a global currency system. He was <a href="https://www.wsj.com/articles/tim-draper-says-tech-disruption-is-coming-to-government-11574245802?ns=prod/accounts-wsj">speaking</a> to the Wall Street Journal (WSJ) on November 20; about technologies like blockchain and artificial intelligence (AI); and how they are disrupting the most important industries and the government itself.
<h2>AI and Blockchain Bigger than the Internet</h2>
The  venture capital investor well known for being bullish on the crypto market; admitted that the internet has been a game-changer on entertainment, media, communication, as well as other areas. However, what’s coming next under<a href="https://www.cryptoknowmics.com/crypto/how-ai-and-blockchain-are-both-a-disruptive-integration-and-the-future/"> blockchain, AI</a>, Bitcoin, and smart contracts will be even bigger than that. The latest innovations are transforming ever-larger industries, like finance and banking, healthcare, insurance, and the government itself.
According to Draper, the decentralized innovations like blockchain are directly challenging governments, and they feel threatened. He added that the world is evolving from tribalism towards a borderless, global community.
<blockquote>‘I think that you’re going to see amazing changes in the next five to 10 years. If you go 20 years out (from) here I don’t think you’d recognize this world.’</blockquote>
In addition, Some governments understand the opportunities that come with these new technologies. However, they haven’t got rid of tribalism. Governments like Estonia, Kazakhstan, Malaysia are happy to lead the way in smart contract adoption or Bitcoin; but they don’t compete by saying: “Hey, we can provide medical insurance better, cheaper, faster than what you’re getting from your tribe.”
At some point, most governments will turn to the sales mode and attract people to their domiciles rather than exert control over them. Moreover, we might see virtual governments being developed or governments residing out in the sea; though they will have a huge influence thanks to blockchain and decentralized technologies. Elsewhere, major  state governments will become marginalized because they regulated themselves out of the game, according to Draper, hinting at the <a href="https://www.cryptoknowmics.com/crypto/us-authorities-extradite-swedish-businessman-over-11m-bitcoin-fraud/">United States.</a>
<h2>Bitcoin Rendering Boundaries Useless</h2>
Furthermore, Draper predicted that Bitcoin will form an extraordinary turmoil, though it will come with many opportunities for entrepreneurs. He concluded that governments that are open to blockchain, Bitcoin, and AI, along with virtual governments, will reap big over the next 4 decades. On the other hand, countries that focus on too much regulation will end up losing big time.
<blockquote>‘Bitcoin is decentralized and open, global and transparent and frictionless…you don’t have to pay 2.5[%] to 4% every time I swipe your credit card to some bank; you can instead be frictionless. That’s taking a world that’s always been tribal and making it global. And the world has always had all these borders. And all of a sudden those borders mean less and less as time goes on.’</blockquote>
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Tim Draper: Bitcoin Friendly Governments will Reap Big

Billionaire and venture capitalist Tim Draper, famous for being a bitcoin activist, has praised Bitcoin for breaking the world’s borders and acting as..%

My first love is music – then goes writing. I don’t write fiction, I analyze bulls and bears in markets. I call it my jungle, the digital jungle of crypto and chains.

Tim Draper: Bitcoin Friendly Governments will Reap Big

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