Bitcoin at the service of economic globalization? – Bitcoin investor and avid Bitcoin advocate Tim Draper once again professed his faith in Bitcoin at the Collision Web Summit the week of April 22. According to Draper, Bitcoin will have to shake up the global economy and even the way we perceive borders. The billionaire is often overly optimistic when it comes to the king of cryptocurrencies, but has proven his visionary talents time and time again. By the summer of 2020, Draper thus estimated that a Bitcoin at $ 50,000 was not an unreasonable proposition.
“People are already realizing it, they would rather have Bitcoin than fiat money”
During his intervention, Draper claimed that Bitcoin would encourage different governments to compete with each other to attractWarning, the devotion and thesilver of their citizens. According to the venture capitalist, digital assets level the playing field. Lawmakers will need to improve the lives of their citizens by integrating digital currencies into their policies. Otherwise, they will move to a more lenient jurisdiction.
“Bitcoin facilitates [une économie mondiale] from an economic point of view, because it is a global currency, it does not care about borders. It is not linked to one nationality or another. ”
Tim Draper, at the Collision Web Summit
These statements largely echo the wave of regulation that the crypto ecosystem is currently undergoing. Tim draper its firmly opposed to the anti-crypto stance of theIndia, as well as the taxation of crypto profits at 43% planned by the US administration. France is not spared by this over-regulation since we come to know a net hardening of rules applicable to companies operating in the crypto ecosystem.
However, we are not fully aligned with Tim Draper’s analysis. Indeed, it seems that Bitcoin has already revolutionized the way the economy is thought about, but it is unlikely to become an enabler of the global economy. Despite innovations, including Lightning Network, Bitcoin is not efficient enough as a payment network. However, this does not exclude that it will become so over the course of the improvements.