The operating of governmental activities can go through a significant change with the rise of Bitcoin and similar new-age, innovative technologies as expected by billionaire investor Tim Draper. 

“The startup currency,” as Draper calls it, has the ability to bring the world closer. He even mentioned how he admires the decentralization and borderless nature that Bitcoin and Blockchain bring in into the systems of different industries. 

He commented by praising these technologies saying,

“With Bitcoin and the decentralization that comes with Bitcoin, geographic borders have become less relevant. No longer are we at the mercy of dictators and toll trolls to grow the world economy. […] In the long-term I believe with regard to business and economics, we are, more than ever, one world.”

He firmly believes that the ones who are not yet ready to accept Bitcoin and are constantly avoiding and trying to abandon it are practically clutching to tribalism. He further emphasizes his belief that “tribalism is dying.” While mentioning all this, he also went on to make a comparison between the attempts to regain power to the roar of a falling king:

“Tribalism is dying. And like the dying roar of the king of the jungle, we are hearing political leaders beat their chests as they try to cling to the power they once wielded when the world was still only tribal.”

Draper also teases the concept of having a much efficient and effective global health insurance policy. One where the premiums are in bitcoin and the claims are settled to the letter with smart contracts and monitored by artificial intelligence.

An independent pension is also something he envisions, unlike the ones where they are under the control of the decisions made by political leaders.

“A pension that is simply a form of fixed smart contract” is his idea.

“Bitcoin brought with it a few fundamental technologies that can accelerate our transformation from a tribal planet to a global one,” he concludes.

It is indeed interesting to see how different billionaires have different opinions when it comes to Bitcoin and Blockchain. It was not long ago that billionaire technology investor Mark Cuban had said that he would be happier owning bananas rather than Bitcoin.