Venture capitalist Tim Draper: ICO has the potential to replace venture capital

According to AMBCrypto, venture capitalist Tim Draper said that mainstream media is losing relevance, and anyone can spread the right news through various social media platforms around the world, so that everyone is less afraid of being misled by mainstream media. Draper revealed that considering the impact of cryptocurrencies on the modern world, “ICO has the potential to replace venture capital. I believe that (finally) I will be able to raise funds in Bitcoin, issue it in Bitcoin, and let entrepreneurs pay their employees in Bitcoin. And the supplier. Once this is achieved, Draper envisions building the entire process into a smart contract where investors can get the rewards they deserve at the right time and get a truly wonderful experience. Draper has attacked banks and banking institutions, linking high cross-border transaction costs to the banker's generally extravagant lifestyle.