Tim Draper, a cryptocurrency venture capitalist: Bitcoin can achieve cross-border payments at a fraction of the cost of existing systems

Tim Draper, a cryptocurrency venture capitalist, said in an interview that Bitcoin can achieve cross-border payments at a fraction of the cost of existing systems. He attributed this feat to transforming a tribal world into a global ecosystem. He further explained that “the world has always had these boundaries. Suddenly, over time, the meaning of these boundaries is getting smaller and smaller.” Draper concludes that it is open to blockchain, bitcoin and AI. The government and virtual government will be big winners in the next 40 years. On the other hand, countries that are too concerned about regulation will eventually become huge losers.