Tim Draper Shares His Vision on Blockchain Technology
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Tim Draper Shares His Vision on Blockchain Technology

In an opening keynote speech at the GovTech Pioneers conference in Vienna, Austria on the 23rd of May, US investor Tim Draper set forth his vision for blockchain-based digital governments.

Draper laid out a future in which blockchain technology using sharp contracts in synchrony with artificial intelligence will greatly change the part and obligations of states. The investor addressed the audience saying “In the event that we join Bitcoin, blockchain with keen contracts and computerized reasoning, we could make the ideal organization,”.

Draper described his vision for the future using the instance of medical services. As indicated by Draper, residents could store all applicable health information, for example, DNA, blood tests, DNA analysis, and different information on a blockchain, where an automated system could consistently examine them with artificial intelligence and send proposals and warnings to individuals

As per Draper, once we start saving this data on a blockchain, it will provide people with much easier migration from places where the government is ineffective:

“Insurance, healthcare, and the real estate industry are offering a terribly poor service and need a lot of money. Governments that burn a lot of money for the worst service feel that first.”

Not long ago, Draper recommended separating the US state of California into three pieces so that it could be easily managed. Draper was reproachful of what he saw as an over-control of the IT-business in the state. As per Draper “even though the weather’s awesome and their friends are probably here,” there is little business motivation to remain in California.

Draper continues to observe an incredible future for cryptocurrencies and blockchain technology, as he clarified at the Intelligence Squared debate in New York towards the end of April. In a debate with crypto-critics, Draper said that the size and significance of bitcoin and the technology behind it outperform major technological ages such as the Renaissance, Iron Age, and the Industrial Revolution.

           

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Madhuri Arora
A passionate writer and an avid reader. I love watching action and superhero movies. Love food, music, travel and games.