“Cinema is the mirror that can change world.” Diego Luna
Billionaire Silicon Valley venture capitalist Tim Draper is doubling down on his bullish bitcoin hand. Draper, founder of Draper Associates, became famous for his early backing of tech sensations Tesla, Jobs.com and Skype, but if you ask him today, bitcoin surpasses them all.
He was asked during a panel discussion at the Intelligence Squared/Manhattan Institute US debate over the weekend about how his investment in the leading tech plays compares to digital currencies, to which he responded that cryptos would be “bigger than all of those combined.”
“This is bigger than the internet. It’s bigger than the Iron Age, the Renaissance. It’s bigger than the Industrial Revolution. This affects the entire world and it’s going to be affected in a faster and more prevalent way than you ever imagined.”
Now, for the first time, we are seeing the democratization of the entertainment industry and the weakening of Hollywood’s control.
Enter HardFork, a new television series from a Sundance alumni, director Doug Karr. This series is set in a dystopian future where cryptocurrency and augmented reality rule. A group of renegades uses blockchain tech to hack the system and decentralize the power structures. This multimillion-dollar series is the first large-scale, mainstream production to be focused on what a new cryptocurrency and blockchain world might look like. But there’s even more change the entertainment world as we know it news – the series is funded by cryptocurrency. How is that for cryptocurrency growth and outreach? Then there are also a series of innovative pilot programs in Sweden, Estonia and the UAE which indicate the potential for governments to leverage the power of blockchain in a way that redefines their role and their relationship to businesses, citizens and even the rest of the world.
Estonia, for example, introduced a blockchain-supported virtual residency card, open to anyone who wants one, that extends the definition of what it means to be a national citizen in the digital age. Their goal is to create 10 million e-residents by 2025–10 times the country’s current population.
The Dubai Government plans to run all its transactions on blockchain by 2020. Solutions would previously have been developed in isolation now has the digital age and the agility of start-ups to innovate faster than institutional peers has encouraged the Government to develop new relationships.
One project, for example, works with a local telecom provider to test the use of blockchain as a protocol for sharing health records in real time between doctors and patients.
The biggest leap yet toward the brave new world of digital money is likely to come from Sweden. The country is already testing the use of blockchain for recording land registry transactions in conjunction with one of their start-up and telecom operators – Telia.
Here in the United States and abroad, Goldman Sachs is looking to enter the cryptocurrency world. It is evident the financial firm wants to embrace Bitcoin in some official capacity as they have set up their first cryptocurrency trading desk.
Naysayers who became believers and believers who led the way is what is happening in the entertainment industry as well as the financial movers and shakers for and with cryptocurrency.
So that one day, when digital currency is a given to you, me, the entertainment industry, leading financial houses, the United States and perhaps the world at large, we can look back at this pivotal moment in time and remember.