Renowned Bitcoin backer, Tim Draper, lauds Bitcoin and its capabilities

Renowned Bitcoin backer, Tim Draper, lauds Bitcoin and its capabilities 1Renowned Bitcoin backer, Tim Draper, lauds Bitcoin and its capabilities 1

Tim Draper, the noteworthy partisan of Bitcoin and a staunch Bitcoin backer, never seems to fall short of words when it comes to signing praises for Bitcoin and eulogizing its many extraordinary facets. In a recent interview with CNBC, Draper claimed that Bitcoin is a valuable asset to mankind and its existence.

Draper insists that Bitcoin impels governments to become more customer-centric and think commercially to unfurl possibilities like never before. He claims that Bitcoin will make the world a much better place to live in another ten to fifteen years.

Bitcoin will change the way we live, believes Draper

He believes that the recent investigations on Libra and its credibility have been stretched to unreasonable proportions, building the USs image as being a highly technologically deficient nation. He affirms that the reason cryptocurrencies are widely accepted and used in countries like Malta and Switzerland is that the regulators and government officials do not stand in the way of innovation.

In what is believed to be the beginning of a uniform, uncensored and a secure form of currency across different nations, Libra, in its elemental form, is nothing short of a revolution in cryptocurrencies. Draper believes that it is time gold-backed currencies and paper-based US dollars take a backseat for currencies that project value, such as Libra.

Bitcoin to revolutionize global remittances

Draper continued to endorse Bitcoin by alluding to its potency in reducing two to three percent of transaction costs in cross-border remittances. Given the amount of global spending, he asserts that the savings will be significant.

According to Draper, as the international boundaries continue to blur, Bitcoin will instigate the need for more streamlined and unanimous ways of doing businesses globally.

Although he envisions that these ideas may seem distant and far from reality at this point, Draper 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.

About The Author

An avid reader and an enthusiastic writer, Manasee recently chose to dedicate her time doing freelance writing. A degree in English literature and experiences in Administration, HR, finance, literature, creativity and innovation tucked under her belt, she crafts engaging and compelling content for crypto and blockchain audience.

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Tags: Bitcoin, Timothy C. Draper, Libra, linebacker