SEC’s Project Crypto ‘Looks Awesome,’ Says Tim Draper As He Pushes For A Bitcoin-Only World With Blockchain Powering Accounting And Payroll

Venture capitalist Tim Draper envisioned a Bitcoin (CRYPTO: BTC) and blockchain-centric ecosystem, following the launch of the SEC’s “Project Crypto” initiative on Thursday.

What Happened: In an X post, Draper expressed excitement at the “awesome” initiative unveiled by SEC Chair Paul Atkins, hoping it would turn his vision of a Bitcoin-centric future into reality.

“My hopes to raise a fund all in Bitcoin, invest it all in Bitcoin, and have startups pay all their employees and suppliers in bitcoin, with all the accounting done on the blockchain with smart contracts is in sight,” Draper said.

He also hoped to see a day when all the aspects of a business, including accounting, auditing, taxes, bookkeeping and ownership transfer, would be on decentralized blockchain systems.