Cointelegraph had a chance to talk to Tim Draper, American venture capital investor and businessman, founder of Draper University for entrepreneurs as well as Draper Associates, a VC firm that invested in Tesla, Skype, Baidu, and many other companies.
image courtesy of CoinTelegraph
Tim Draper has been involved in different crypto projects, from the purchase of seized Bitcoins from the Silk Road marketplace website in 2014 to advocating Tezos in 2017.
He shared his thoughts with Cointelegraph on Blockchain adoption, regulations in the US and China, and why he wants to leave California.
Who needs Blockchain integration the most?
Government needs it the most. No question. Worst service, biggest industry, highest cost. Government is clearly people. The size of an industry tends to be the number of people involved. Government is affecting the most people and it is providing the worst service at the highest cost. And the Blockchain can remedy that by creating a whole virtual layer of governance.
That could be the beginning of where governments have to compete for us so that their services increase, improve and the costs go down. Your taxes will go down, and your education, and your health care and whatever – it will go up, it will be better.
But other industries that are going to benefit, anything that’s tied to data or the individual, so identity will be very important because anybody who’s affected by data is going to have a much improved situation because that data will be on the Blockchain, permanently there, tied to each individual. And once that’s the case that can help with all sorts of other industries: whether it’s healthcare, or commerce, or improve retail experience – it could be any number of different things that could be helped just because they will have better data on you.
How to push adoption further?
We, who are in the industry, are pushing as hard and fast as we possibly can. And it’s just that there are all these uncertainties, created by the governments that are run by the grandparents of the people who are creating this new industry. And they don’t get it. It is very frustrating for the people who are creating the industry.
So you have these regulators who are 70-80 years old and they are the ones telling these twenty-year olds what they should be doing. But they’re the same people who have given them huge education debt, poor education, …read more