Horacio Villalobos | Corbis | Getty Images
Tim Draper Founder, Draper Associates/DFJ.
Big Macs as well as also lattes will be purchased by cryptocurrencies sooner than you might think, according to venture capitalist as well as also bitcoin fanatic Tim Draper.
“In all 5 years, if you go to a Starbucks or McDonald’s as well as also try to buy a burger or coffee with fiat currency, the person at the counter is actually going to laugh at you,” Draper told an audience Friday in San Francisco. “There’s a real need for a currency of which’s global.”
Draper’s presentation at the Blockchain Connect Conference came by video as well as also helped kick off a full day of panels as well as also presentations via developers as well as also investors. The event was so crowded of which people were filling up the overflow room to listen on televisions, as well as also Draper’s video aired late because of technical difficulties.
Draper, who backed companies including Skype as well as also Baidu inside the earlier days of the internet, has made a personal fortune on bitcoin as well as also has more recently turned his attention to initial coin offerings. He said in May of which he was participating inside the Tezos ICO, one of the biggest crypto offerings of the past year. of which deal has been plagued by conflict, with the founders stuck in a financial battle with one of the leaders of the project.
Draper said there will be “fits as well as also starts” inside the emergence of blockchain however over time of which will effect “industry after industry.”