- China moves to embrace blockchain technology with its own digital currency.
- The US still grappled with regulatory uncertainty and by large has no idea what to do with blockchain.
China is unexpectedly embracing cryptocurrency and more so the blockchain technology. The Asian economic giant is announced support for everything blockchain amid the development of its own digital currency.
The founder of Galaxy Digital Mike Novogratz worried that the United States will never recover the time lost due to the uncertainty with crypto regulation. He said this in reference to the strides that China is making towards embracement of the blockchain technology. The US is falling behind the fintech race and is at the risk of losing its “reserve status.”
“And if we don’t transition to a digital world that will change. We are way behind on a crypto USD. China is coming. And coming fast. They are way ahead in fintech. Their President just publicly claimed his support to all things blockchain. We risk losing our reserve status.”
The above was followed by an interesting headline by the Chinese state media. The article seeks to educate the masses about Bitcoin and Blockchain. Besides, it shows that a nation that has been reserved about cryptocurrencies is finally warming up to them.
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