Ripple: US catastrophe awaits if delayed with blockchain recognition

The co-founder of the Californian startup, Chris Larsen, told who the United States is inferior toIn questiondigital technologies and how this threatens the country in the future.

US may face potentiala disaster, if they can’t clarify the regulation of blockchain, cryptocurrencies and related technologies, said Chris Larsen, co-founder of California-based Ripple blockchain startup, in an interview with The Wall Street Journal. According to him, decentralized developments will become the engine of the next generation global financial system.

Larsen thinks that the United States “lingered ongame ”and should change their views on the crypto industry. Hype around digital assets took place in 2018. Financial regulators have already won the war against fraudulent ICOs and similar projects. Now it’s important to focus on the development of the blockchain industry in order to compete with China, which has made significant progress in this area.

Now there is a “technologicalcold war, ”and China overtakes the United States, Larsen added. He admitted that control of the global financial system in the future could pass into the hands of China. In this case, his government will be able to block payments from the United States to allied countries and American banks with low Chinese credit ratings.

that the dollar risks losing the place of the world reserve currency. The US delay in issuing a national cryptocurrency can lead to serious negative consequences for the country.

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