Tim Draper: Blockchain Could Free Individuals From Inefficient Governments
Venture capitalist and Bitcoin enthusiast Tim Draper said that blockchain could enable people to more easily emigrate away inefficient governments.
US investor Tim Draper presented his vision for blockchain-based digital governments in an opening keynote speech at the GovTech Pioneers conference in Vienna, Austria Cointelegraph auf Deutsch reported May 23.
Draper outlined a future in which blockchain technology utilizing smart contracts in conjunction with artificial intelligence will massively change the role and responsibilities of states. "If we combine Bitcoin, blockchain with smart contracts and artificial intelligence, we could create the perfect bureaucracy," the investor told the audience.
Draper explained his vision for the future using the example of healthcare. According to Draper, citizens could store all relevant health data, such as X-rays, DNA analyses, blood tests, and other findings on a blockchain, where an automated system could continuously analyze them with artificial intelligence and send recommendations and warnings to individuals.
According to Draper, once all this information has been stored on a blockchain, it will enable people to more easily emigrate from places where the government is inefficient:
"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."
Recently, Draper suggested splitting the US state of California into three pieces so that it would be easier to manage. In an interview with Cointelegraph in mid-April, Draper was critical of what he perceived to be over-regulation of the IT industry in the state. According to Draper, “even though the weather's awesome and their friends are probably here,” there is little business incentive to stay in California.
Draper continues to see great potential for cryptocurrencies and blockchain technology, as he made clear at the Intelligence Squared debate in New York at the end of April. In a debate with crypto-critics, Draper said that the magnitude and importance of bitcoin and the technology behind it surpass major technological epochs such as the Iron Age, the Renaissance, and the Industrial Revolution.