The Nomad Economist: China vs. USA, the Great Battle for Blockchain

0
458

The Nomad Economist
Premiered Feb 6, 2022

The technology to likely have the most significant impact on the next few decades is here. It’s not social media or even artificial intelligence, it’s the underlying technologies in all cryptocurrencies such as Bitcoin, and it’s called Blockchain.

Blockchain is the next generation of the internet as we know it. It’s a technology that has many applications and holds vast promise for every business, society, and the individual person watching this video .

Available data indicate that China is leading the pack when it comes to blockchain technology innovations.

As of November 2018, China was the country with the most blockchain projects, with the number standing at 263.

Additional data from Blockdata reveals that the country accounts for 25% of all blockchain projects. Similarly, as of December last year, China had 615 registered blockchain firms. Half of these organizations are creating blockchain solutions for the financial sector.

Apart from the number of projects and registered companies, China holds the leading position in terms of the number of blockchain patent applications.

The closest competitor is the US, which has 28 patents short of China’s number. What is evident from this information is that the state of blockchain In China is advanced more than anywhere else in the world.

The cryptocurrency was the primary tool for that. The average person, even in the west, is still not the most familiar with blockchain technology. This being said, I don’t think China pales in comparison to any other country. If anything, blockchain and bitcoin may be more popular in China.

China has a significant problem with cash leaving the country by corrupt officials and business people. 80% of the mining power is located in China because electricity is so cheap. Additionally, one of the most popular cryptocurrencies right now, NEO, is based in China. I don’t think there is any shortage of popularity in China in blockchain technology.

However, just like the average person of the west, I believe there is a lot more room for growth.

https://www.youtube.com/watch?v=bXjfVF1GjKQ

______________________________________________________

If you wish to contact the author of any reader submitted guest post, you can give us an email at UniversalOm432Hz@gmail.com and we’ll forward your request to the author.
______________________________________________________

All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.

Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.

Copyright © 2021 Dinar Chronicles

LEAVE A REPLY

Please enter your comment!
Please enter your name here