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Digital cold war? United States and China vie for blockchain supremacy

cointelegraph.com

Lone Fønss Schrøder, CEO of blockchain solution Concordium, told Cointelegraph that the threat to Western values from a new global CBDC — i.e., a digital yuan — is exaggerated: “I don’t think that’s a problem.” Jason Brett, founder and CEO of Value Technology Foundation — a think tank focused on blockchain technology — told Cointelegraph that China launching a CBDC before the U.S. “absolutely does not guarantee global financial preeminence.

In the broader tech world — which encompasses dozens if not hundreds of areas including aerospace, energy, water, weather, agriculture, satellites, autonomous ships, enterprise software, cloud computing, the chip market and others — “China has few, if any, players at all,” said Mushero, adding: Some worry that China’s authoritarian regime has the advantage of being able to throw vast sums of money at emerging technologies like blockchain and AI, but “The Chinese way is not necessarily better,” Brett told Cointelegraph. There remains a risk in falling too far behind, though, and some signs are troubling, such as lower patent activity in the U.S. (the People’s Bank of China alone has filed more than 80 patents related to digital currencies, by comparison) and the Blockchain Service Network, China’s government-backed blockchain initiative that recently launched an official international website.

Read in Full: cointelegraph.com

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