Tim Draper: Why We should Use Bitcoin and Other Cryptocurrencies
Tags: Investment, Startup, Blockchain, Cryptocurrency, Bitcoin

Tim Draper: Why We should Use Bitcoin and Other Cryptocurrencies

Crypto Heidi interviewed Tim Draper at Global Disruptive Innovation Summit on Oct 1, 2018, held in Silicon Valley.

Timothy Cook Draper (born June 11, 1958) is an American venture capital investor, writer and the founder of Draper Associates and Draper University. In July 2014, Draper received wide coverage for his purchase at a US Marshals Service auction of seized bitcoins from the Silk Road marketplace website. He also spent in excess of $5 million to push a ballot initiative to divide California into three smaller states, which has met the signature threshold but was removed from the ballot by a decision in the Supreme Court of California.

Tim Draper has also built an incubators and networks of venture capitalists called the Draper Venture Network with teams in China called Draper Dragon, in Japan called Draper Nexus, in Europe which trade for a spree. And then many other groups around the globe that helps the group to be a better venture capitalist network.

With a strong background in both finance, education, and politics, what is draper’s view on cryptocurrency? He replied with great confidence:

”The great thing about cryptocurrency is that it is not tied to a government. (Currently)Governments control you(people) by controlling your currency. Governments have to switch from control to service. Governments have to start thinking in terms of how do I attract citizens to my government, as opposed to you live here, you work for me. I think that is going to be a change that’s slowly starting to happen around the world.”

He mentioned that Japan government is a great example of good use of cryptocurrency.

“Bitcoin as a national currency in Japan has attracted entrepreneurs, businesses, money to Japan.” While other countries should follow its path.

“And I think other countries need to do this, too. They need to recognize that the world is now open, and as a government, you have to serve your people, instead of the other way around.

Heidi also asked Draper for 3 recommendations for people who are thinking about getting have their own startup.

1. Look around at all the technologies that are out there, and see how you can use one of those technologies to, and apply that to the industry that you’re in. And see if you can create a technological edge in your business.

2. Make sure you surround yourself with really good people who you have a lot of faith in, who can do the things that you can’t do for your business, or who do the things you don’t want to do for your business.

3. Take the first step, just do it. Just get out there take a step to try it see what happens.

4. Apply to Draper University.

Draper believes that the market will be bullish in the long term because

“I believe that no one will want to hold on to a currency that’s tied to a government when there’s a currency that’s just as good that is decentralized and not tied to a government. So, most people will move to Bitcoin and other cryptocurrencies.”

But there will be a time required for cryptocurrency mass adoption. Let’s look forward to this big change in the future.

#GDIS #GDIS2018 #TimDraper Global Disruptive Innovation Summit (GDIS) is hosted by Silicon Valley Business Institute (SVBI). SVBI is founded in Silicon Valley since 2015, with wealth of innovation & entrepreneurship resources, having deep relationships with leading companies, incubators and business schools, more important, it provides enterprises a global platform and promotes global business innovation and revolutions.

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