Billionaire VC Draper Shifts Attention From China to Indonesia
- He says Indonesia’s unbanked can leapfrog through bitcoin
- Indonesia appeals with its population, reliance on cash
Why Tim Draper Says Indonesia Is a Great Place to Be
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Billionaire investor Tim Draper sees opportunities in Indonesia, especially with bitcoin and blockchain technology, as entrepreneurs take advantage of a lack of modern banking infrastructure to build their own.
Despite its young tech-savvy citizens raised on smartphones and apps, Indonesia has the second-highest dependency on cash in the world after India, according to the World Bank. The managing partner of Draper Associates expects users to jump to cryptocurrency.