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Paris Blockchain Week 2023 Sees Tim Draper Singing A Bitcoin Song

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There is still growing tension due to the recent failures of some US banks. Paris Blockchain Week for 2023 has finally kicked off today, March 22. The conference, deemed one of the largest globally, takes on different areas including cryptocurrency, Web3, and blockchain technology.

Tim Draper, an American venture capital investor, dazzled the audience with his speech on the decentralization of everything. Draper crowned his stage oration by singing a Bitcoin song.

Draper Dedicates A Self-Composed Bitcoin Song To Failed Banks And The World Government

The PBW 2023 Summit takes on its first day on March 22 with Draper being among the speakers. While taking on the stage, Draper centered his speech on the title ‘Decentralization of Everything’. He began by highlighting the overall loss of confidence in crypto assets by centralized governments, with a specialty on Bitcoin.

Ironically, Draper moved his speech to the recent global bank crisis. He mentioned that it’s a clear incident of the crisis of trust since the world governments believed more in traditional banks. But the sudden crash of Silicon Valley Bank and the others are proving a contradictory condition.

According to the venture capital investor, the implosion of some US banks has created fear in the hearts of several people. Many have lost strong confidence in the banking system despite the declared insurance of customers’ deposits.

Draper stated that it lies within the government as the leader, to restore its citizens’ confidence. They could do so by ensuring the trust of the remaining banks and giving them liberty.

But Draper noted that the current stance of the US leadership on crypto may not help it actualize a smooth transition from the banking crisis. This is due to the recent vibes coming from the US Presidency against digital assets.

The investor mentioned that things would get wealthier with the creation of more liquidity via any leap in currency. Such a situation brings a change only strong leaders would embrace. The weak ones will resist the changes without understanding the implication. He said that weak leaders will face failures with themselves and their currencies.

Draper summarized his speech with a self-composed 3-minute Bitcoin song. He dedicated the song to Silicon Valley Bank, all failed banks, and the ones that will fail.

The song, which the audience applauded, included Bitcoin, Satoshi, governments, banks, and the desire for a new world order. Draper revealed that he wrote the song four years but it is more relevant with the recent happenings.

White House Slams Cryptocurrencies

The release of the Economic Report of the US President indicated the addition of digital assets. It contains a chapter that created more doubts about the benefits of digital assets. The report, which was released on March 20, is the first since its issuance in 1950 to include cryptocurrencies.

Following the release of the report, the crypto industry is filled with potential FUD (fear, uncertainty, and doubts) on the implication. The report cited that crypto assets failed to uphold their merits in building the economy. These include the advancement of payment systems, the creation of mechanisms for value transfer, and financial inclusion.

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