Tim Draper’s Proposal To Replace the U.S. Dollar With Bitcoin (BTC)

· in Breaking, Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

We’ve heard many times how crypto enthusiasts and figures make interesting proposals for Bitcoin (BTC) to be adopted around the world even further. This time, Tim Draper, the recognized investor and billionaire, shared his view about the United States and how he would use Bitcoin rather than U.S. dollars to move the economy. 

Bitcoin Instead of U.S. Dollars

In a recent blog post released by Mr. Draper, he shared his views about what would look like a day of his presidency. The first two things that he mentioned are decentralization and Bitcoin. Indeed, he would work in order for the economy and the government to be driven by decentralization. 

Blockchain networks that are represented mostly in virtual currencies have promoted decentralization as something that would be much better than centralized systems. Clearly, there are many advantages of decentralizing processes and systems. However, there are still some things that must be solved before it is possible for decentralized systems to become 100% efficient. 

The second thing that he stated is related to Bitcoin and how he would make if the national currency of the United States. Bitcoin is the largest virtual currency in the market and the one that many companies and firms are starting to accept as a means of payment. Moreover, investors are also looking at it as an investment asset that could eventually provide investors with large benefits in the long term. 

In this first paragraph, he mentioned many other things that he would do if he would be elected president. For example, he mentioned he would release Ross Ulbricht, who was running the Silk Road, a marketplace to sell illegal goods and services, or he stated that he would make any increases in government worker salaries tied to GDP growth. 

On the matter, he wrote:

“I would drive decentralization. Make Bitcoin a national currency. Break California into 6 states. Release Ross Ulbricht. Have people use Aragon for trial by jury. Make any increases in government worker salaries tied to GDP growth (rather than cpi).”

This is just one of the many proposals to help Bitcoin reach a larger number of users. It is worth mentioning that Draper is not officially running for U.S. president and that John McAfee has previously tried to run for president as well. John McAfee has proposed many times to bring blockchain technology to the U.S., decentralize the government and promote the usage of cryptocurrencies. 

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