While Bitcoin's rate was delayed near the $5,300 mark, well-known cryptocurrency enthusiast Tim Draper once again made an optimistic forecast of the first cryptocurrency.
During the 415 Stories podcast, Tim Draper emphasized that it is Bitcoin and other new technologies that will become one of the main tools for "transformation of the largest industries in the world. This will be particularly noticeable when the global economy recovers from the current financial crisis. Bitcoin, in contrast to centralized currencies, will help many.
"When the world starts to recover, it is Bitcoin, not banks and governments, that will save it," said the venture capitalist.
Draper expressed confidence that technologies such as Bitcoin and Artificial Intelligence (AI) have the potential to completely change many industries, from banking to medicine to real estate. Draper cited the insurance industry as an example, noting that if an insurance company is launched now, it is necessary to implement smart contracts based on Blockchain, AI and Bitcoin support.
"In an insurance company, I would use AI for fraud detection, smart contracts with Bitcoins and put it all on the blockchain," Tim Draper said.
Draper recently said he sold a significant portion of the shares he owned in 2019 and invested the money in the first crypt currency. He said he continues to believe in Bitcoin's prospects.
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