As Warned By Crypto Figures, The US Is Losing Out To The Rest Of The World On Blockchain
As the future of technology, it is important to learn about Blockchain. Why is the US viewing it as a potential threat? Know more about the reasons.
The Blockchain Scenario In US
Costing the country on start-ups as also potentially the future of technology is America’s reluctance to regulate crypto. In this context, the two major names in the crypto space are Ripple CEO Brad Garlinghouse the company that created the cryptocurrency XRP and Michael Arrington, who is the founder of TechCrunch running the dedicated crypto fund.
So far there has been no breakout blockchain company where excluding the service that the industry is going through crypto exchanges or mining it is nearly every major tech company with a stance on blockchain actively looking into how it works with it. Looking hard at what’s possible are the big companies that are as diverse as Facebook, IBM, and Google, as most start-ups bringing innovation are being developed elsewhere in the world.
As Arrington comments, they have a few good US investments about his $100 million Arrington XRP fund whereas 80-90 percent of the investments are present in Asia, Europe, and Israel as they are countries where there’s enough regulatory certainty with entrepreneurs feeling safe starting token or blockchain companies there. He further adds that in the US they don’t as so much regulatory uncertainty adds to the tax burden as also the visa burden of going there and the current federal government’s stance on immigration in general and they are staying in Singapore or Israel or Europe instead of coming there to start companies.
More On Why SEC Is Keen In Regulating The Crypto
Arrington says in stronger terms it is lack of clarity where it was singlehandedly dealing with the next stage of technology development. Thereby according to him, the SEC needs to get their act together so that in case it was done that with the internet in 1994-1995, TechCrunch or none of us would be there as they all would be living in Shanghai or somewhere else wherever they managed to get their act together. Echoing these statements, Garlinghouse added that there certainly is a need for intervention from a regulator as they are unequivocally being bad actors in the ICO ecosystem where frauds and massive scams come with hundreds of millions of dollars and if not billions being heisted and they are surprised the SEC hasn’t been more aggressive.
As Garlinghouse explains it would be helpful to have the clarity as there is a risk where a lot of developments end up not being in the US as the impact on the US economy for having the kind of internet like what we think of today is, therefore, being very US-centric in many ways which have been very positive for the US. According to him, there has been plenty of speculation around what the tokens are that the SEC might deem to be securities as he said he isn’t concerned about a clampdown on XRP. The facts come to be clear that XRP is not a security and doesn’t spend a lot of time worrying about that. He adds that recently at an all-hands meeting they joked that some people though didn’t find it funny that in case Ripple shut down tomorrow as the XRP ledger would continue to operate, then in case XRP is a security, what kind of security is it?
The Concluding Words On XRP And Cryptos
With crypto and blockchain ruling the world, tech giants are witnessing a revolutionary change. It is set to transform the fields of technology, medicine, governance, and even more. Therefore, we make sure the technology is at the forefront and we are indeed buying out in the realm of crypto. With SEC imposing rules and regulations, the US government is cracking down on the regulatory front of the blockchain and its applications. Hereby the enthusiasts are facing a tough situation in encouraging crypto investments.
The relevant question is why then are more and more developers coming interested in investing in the cryptocurrency. The ease of access and the security of the investments are two major reasons cited by developers as to be exciting for them. There are also a lot of ICOs happening around the world as they are being viewed as one of the best amongst others. There is much to be seen and we make sure you know all the happenings in the ecosystem as advice on the matter are of course necessary to make the cryptocurrency along with the underlying blockchain technology to bring the technology to the forefront. The stage is all set and we bring you all the facts together where you can make a safe and secure investment option.