- Tim Draper describes that Bitcoin will save the world after the crisis, not the governments of this world.
- Meanwhile, the FED has announced that it will use USD 700 billion to buy short-term bonds issued by various companies to further stimulate the economy.
Similar to the global financial market, Bitcoin has crashed hard and has recorded a decline of more than 47% in the last 30 days. At the time of writing, BTC is moving sideways and trades at a price of USD 5,263.31. Bitcoin bull and multiple billionaire Tim Draper has outlined in a new podcast on March 16, 2020, that Bitcoin has the ability to “transform the world’s largest industries.
Draper says that during and after a financial crisis, Bitcoin will be one of the most important tools for mankind to overcome the crisis:
Entertainment for while you are holed up. When the world comes back, it will be Bitcoin, not banks and governments that save the day.
The billionaire is not uncontroversial due to his forecasts for the Bitcoin price of 250,000 USD, but many other experts also see the blockchain as a groundbreaking technology that could completely change society since the advent of the Internet in the 1990s. Draper describes that the blockchain can make its way into almost all sectors of the economy.
According to Draper, the blockchain in combination with artificial intelligence can revolutionize banking, pharmaceuticals, logistics, food and health care, among other things, and create trillions of new values in the process. Draper also sees great potential in smart contracts:
For example, I could start an insurance company with an actuary AI to determine fraud and a smart contract with Bitcoin and put it all on the blockchain.
Tech experts like Draper are among the visionaries of our time, creating new ideas that can change the way we live together tomorrow.
DeFi as a new future market
The decentralized finance market (DeFi) is mainly based on the Ethereum Blockchain and has since reached a volume of more than $1 billion. Draper invested in the DeFi Money Market DAO company and acquired several Governance Tokens DMG. In addition to Ethereum, other companies such as Ripple are also entering the DeFi market.
Xpring is currently providing financial support for three projects that will build a bridge between XRP and ETH tokens. At the ETH Denver conference, Warren Paul Anderson, developer of Xpring, explained that interoperability between the XRP Ledger (XRP) and Ethereum (ETH) based on the Interledger Protocol (ILP) should be expanded to gain access to this trend-setting market.
Follow us on Facebook and Twitter and don’t miss any hot news anymore! Do you like our price indices?
