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Billionaire and crypto investor Tim Draper envisages a radical
overhaul in payment systems; predicting that cryptocurrencies will
replace fiat currencies within the next five years. Following the
unprecedented announcement by the first major bank to have ever
created its own digital coin, the 'JPM Coin', one wonders
whether such an endorsement of blockchain technology by a credit
institution is the first step in a series of events which will
ultimately lead to Draper's prediction becoming a reality in
the not so distant future.
This prediction was expounded during an interview held on 18
February, 2019 with American financial news TV channel Fox
Business1 during which Draper explained that
cryptocurrencies will be used for any day-to-day mediocre
transactions, emphasizing that only criminals will want to continue
in dealing in cash. As a result, fraudsters and criminals resorting
to
