Recently, on July 19, Bitcoin enthusiast Tim Draper was on CNBC speaking on how the mainstream coverage of cryptocurrency has been a positive event for the crypto community in general.
Initially, Tim spoke about the importance of cryptocurrency. He believes that: “ it’s good to have people talk about it and thus they realize how important Bitcoin is gonna be for the planet”. He claims that Bitcoin will make the world a much better place to live in another ten to fifteen years.
Draper assures that, Bitcoin will instigate the need for more streamlined and unanimous ways of doing businesses globally. He is convinced that the secure and reliable design of blockchain will go a long way in instilling trust in Bitcoins. He insists on governments to adopt blockchain at the earliest opportunity to prevent themselves from being left in the cold.
Tim Draper said :
“I think all these other cryptos are bridges to where we have a Bitcoin environment,”
He believes that the recent hearings on Libra have been stretched to unreasonable proportions. As a result, the US’s image is being a technologically deficient nation. Tim highlights that the reason cryptocurrencies are widely accepted and used in countries like Malta and Switzerland is due to the regulators and government officials do become a hurdle in the way of innovation.
Tim claimed :
“We’re putting regulation before the innovation – Facebook’s just-announced Libra; they haven’t even been able to ship it yet, and the regulators are all over them,”
Tim believes that Libra is still in its elementary form and could surely bring a revolution in cryptocurrencies.
“ Gold-backed currencies and paper-based US dollars take a backseat for currencies that project value, like Libra”.