The United States of America has fallen dramatically behind in building a payment system based on blockchain technology. The founder of a company that invests in cryptocurrencies thinks so.
“China has a six-year lead ahead of the United States in building a blockchain payment system,” he said in an interview with Yahoo! Finance Dan Morehead, founder of Pantera Capital, which focuses on investing in cryptocurrencies, but not just in them.
But, according to him, this could ultimately motivate and prompt the United States to accelerate the development of this payment technology. China currently represents the world’s hegemon in Bitcoin’s mining capacities. It is 46 per cent involved in them. “It is certain that international races will arise over who will dominate the blockchain environment,” Morehead added, likening the situation to racing in the conquest of the cosmos.
China, before it started to regulate the cryptocurrency environment, placed emphasis on integrating blochain into the financial system, in several ways. Last year, for example, it announced the emergence of its first blockchain network operated and guaranteed by the government. The network connects more than a hundred Chinese cities and is used by both public and private institutions.
