peter thiel on virtual money

peter thiel was one of the VC’s behind paypal. he starts of with “why has money value?” and expands it to “what are the things that have value in an economy?”. more and more of the value of an economy are in intangibles.. asserts that john locke started the march to VR by describing nature as cruel and the desire to create an alternate world. one of the reasons for setting up paypal was to create payment systems in cyberspace that were as independent from the real world. “50% of world wealth is now stored in offshore locations.” peter mentions sealand, the “virtual country”. i don’t exactly got his point to be honest.