Chris Larsen, former chairman and co-founder of Ripple, said that the USA is slow in digital money developments. According to Larsen, the U.S. lags behind China.
In a video interview with Wall Street Journal reporter Paul Vigna, shared on Ripple’s YouTube page, Larsen stated that Beijing was “so far” ahead with the development of the blockchain and said Washington was lagging behind.
Larsen also stated that the United States should respond to the fact that China is ready to spend $ 1.4 trillion on technology. According to him, payments and blockchain are clearly part of this strategy.
They Help China Win
According to Larsen, regulators in the USA are helping China to take the upper hand. This is because cryptocurrencies like Bitcoin and Ethereum, which are explicitly controlled by China, are constantly being tried to be clarified. Larsen uses the following statements regarding the issue:
“US regulators really helped China by officially clarifying two protocols that are effectively controlled by Chinese miners: Bitcoin and Ethereum. This is a mistake. ”
Instead, he said, American regulators should try to support “more favorable technologies for the US and its allies.” He warned China that the consequences of allowing so much power in the blockchain area could be “disaster”.