Every year some of the world’s leading innovators, game changers and leaders in the cryptocurrency space come together for an insightful conference (Crypto Invest Summit) about the blockchain and crypto ecosystem. Tech This Out got the opportunity to speak with billionaire venture capitalist Tim Draper about the future of this digital currency and how evolving beyond our grandparents paper money could positively impact our society. Before we jump into Draper’s plans for the future, let’s break down cryptocurrency for the people who consider their virtual wallet to be the Apple Pay feature on their iPhone.
Cryptocurrency is a digital or virtual currency that utilizes a security method that makes the currency nearly impossible to hack. Bitcoins (digital or physical money) are more secure than your money in the bank and can be used anywhere in the world. So when it’s time to book that trip to Paris, you don’t have to turn your dollars into euros. Cryptocurrency can also be used to purchase homes, shop online and has the potential to be used for Universal Basic Income to help combat poverty and give every citizen a base level of income security.
Tim Draper gives listeners multiple reasons why cryptocurrency will eclipse paper currency in the future but the most relevant reason involves the government. It doesn’t matter if you’re a Republican or Democrat. A Trump stan or Trump critic. Cash not only rules everything around us (Shoutout to Wu-Tang) it also influences who has power and who gets positively impacted by the decisions made from the leaders in this country.
We’ve seen the government place a higher value on our military budget and gun control (or lack thereof) than the improvement of public education and a true living wage. Bitcoins could give more power to the average citizen but education is the greatest power in anyone’s arsenal. To hear the keys on cryptocurrency and how it could benefit this country’s school system and even help with dividing up California (another prominent issue involving the government) watch the full interview above.
Article By: Marcel Jeremiah