A Critical Moment for Bitcoin
COVID19 pandemic has incurred huge costs on global markets. In an interview, Tim Draper, the venture capital investor believes that such pandemic is a critical moment for bitcoin and smart contracts to flourish.
He believes that the government’s rescue plan to print money in large scale might be wrong because it takes long years for that amount of money to get into the global market. He said that that flood of money won’t do any good to save the affected businesses, but rather it would get worthless during time.
In an historical claim. Draper said that people will turn toward smart contracts and Bitcoin because it has a fixed supply and is mentally comforting when considering its stakes.
It has been claimed that spread of coronavirus would end in the termination of globalization which is a utopian landscape depicted by multinational corporations during the past 25 years, but Draper believes that current innovations in smart contracts and artificial world will force politicians to compete in cybernetic dimension.