Ripple’s co-founder, Chris Larsen, thinks the U.S. is moving slowly in the Blockchain area and leaving the square to China. Larsen said that letting China grow so strong can be very dangerous for America.
Chris Larsen, the chairman and co-founder of Ripple, stated that the US is moving slowly and that China is allowed to take the lead, and warned Washington to take more place in the blockchain area.
Speaking in an interview with Wall Street Journal reporter Paul Vigna, Larsen said Beijing is far ahead of the blockchain industry than Washington. According to Larsen, America needs to respond to China, which is ready to spend $ 1.4 trillion on technology.
It turned out that China plans to spend 1.4 trillion dollars in May for a number of technologies, including artificial intelligence, 5G and blockchain.
Ripple’s co-founder thinks that the regulatory policies implemented in the US have helped China stand out from the top. Stating that the regulators have done a good job at shutting down lousy ICOs, Larsen said: “Now, we have issues about how we compete with China and how we keep up. Until now, US regulators have helped China by officially clarifying Bitcoin and Ethereum, which have been effectively controlled by Chinese miners. This is a mistake. ” used expressions.
Later, Larsen said that policy makers should instead try to support more favorable technologies for the US and its allies. In addition, Larsen stated that the consequences of allowing China to become stronger on the Blockchain can be disastrous.