Blockchain Can Ease the Process of Immigration: Tim Draper

Prominent investor Tim Draper has predicted that Bitcoin’s impact on humanity will surpass staggering milestones in the past such as the Iron Age, Renaissance, and the Industrial Revolution. In a recent statement, he said that the technology behind the cryptocurrency, blockchain, can help individuals move away from an inefficient government.

The investor delved deep into the vision he has for the cryptocurrency and government. He used the healthcare sector as an example. Draper explains that individuals can store their health information in a blockchain where artificial intelligence can thoroughly and continuously analyze the data to create recommendations in the future.

Once these data are stored, immigrating to other countries where the government functions better gets relatively easy. Security has been among the top reasons why a person will be barred from entering a certain country. The blockchain technology can solve this if a person’s information, like healthcare information, educational attainment, employment records, and others are readily available in the digital space.

A security agency of a country can then simply scan the blockchain, verify it, and create safer assumptions whether or not a person is a security threat or not.

"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,” Draper remarked. He recently had a talk at the GovTech Pioneers conference held in Austria.

On the financial side of crypto, the investor has anticipated that Bitcoin will reach a value of $250,000 in the next four years. However, the cryptocurrency isn’t doing well and is struggling to reach the $10,000 value it had months ago. It’s currently priced at over $7,500 as of this writing.

As for Draper’s claim regarding security improvement through blockchain, private and government agencies are already working on the matter. The latest on this is the VChain app capable of enhancing traffic flow inside airports.

First, people will store their travel documents in a blockchain. At the airport, security will scan a specific blockchain and send it over VChain for verification. If it comes back clean, the person is given the thumbs up. All of this will happen in mere seconds eliminating long queues at the airport, while creating a more secure network that can distinguish potential threat entering a country.

Of course, it will take years before such platform is implemented by the government. But research on this is already well underway with millions being poured to figure out the most efficient way of applying the technology in a government’s system.