U.S. & China Tech-War Continues: Is Blockchain Leading to Geopolitics

U.S. & China Tech-War Continues: Is Blockchain Leading to Geopolitics

Blockchain News
November 19, 2019 Editor's Desk
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Things are dramatically shifting from an economic point of view across the world. Two significant superpowers, the U.S. and China, are entangled in a trade war where tariffs have been imposed on goods developing ambiguity for customers and businesses alike and making daily products more costly.  The U.K. is still tangled in a rumpled separation
US and China

Things are dramatically shifting from an economic point of view across the world. Two significant superpowers, the U.S. and China, are entangled in a trade war where tariffs have been imposed on goods developing ambiguity for customers and businesses alike and making daily products more costly. 

The U.K. is still tangled in a rumpled separation from the European Union, and Russia is building up tensions with its acquaintances in the West.

This geopolitical tension has two prominent effects. First, it will inflict havoc within the markets, obliterating billions of dollars off the value of vital companies and stirring employment rates in the world’s economies. Second, it is assisting some enthusiasts to intensely advocate for crypto and blockchain, exerting a more vital role in the marketplace. They say it may eliminate borders, making international payments quicker and inexpensive, while supporting trade between nations.

Crypto and blockchain are also producing new geopolitical challenges. North Korea has faced charges that a well-bred group of hackers is launching cyberattacks on vital exchanges in neighboring South Korea. 

Millions of dollars have been spent, with each incident swinging the confidence of customers. India has also been steadfast in its decision to shift ahead with a crypto ban. It could have repercussions for the likes of Facebook, which is aspiring to launch a stablecoin that would profit the unbanked. The ‘Libra project‘ is also generating tensions across the globe, that the cryptocurrency could undermine traditional payment infrastructure. 

A vital thing that’s holding cryptocurrency is the incoherent, disintegrated approach to control around the world. Some countries like India are taking a strict procedure by introducing imprisonment for anyone found possessing these coins and tokens. Countries like Japan and Canada are relaxed, encouraging innovation, facilitating taxes to be paid using Bitcoin, and developing “regulatory sandboxes” where crypto products can be tested on a small amount of the population before implementing it.

There is a sincere and urgent divide when it comes to the views surrounding crypto and blockchain. In some countries, there is improbable discretion surrounding this technology amidst fears it could have a severe impact on vulnerable customers. Some politicians concern the negative perspective advocated towards the industry.

This hope for a pro-crypto stance lies in issues that individual countries may gain a headstart on creating their own central bank digital currency, establishing quick dominance. One such example is China, which is all set to embark on a speedy acceleration of blockchain usage at the command of President Xi Jinping.

The Future

 Will China obtain dominance and originate a central bank digital currency? Will India be prosperous in its journey to ban cryptocurrency? Will Russia prosper in its quest to empower law enforcement to seize Bitcoin, and is this even achievable?

Due to the mystery surrounding the future, conferences are gaining popularity, understanding worthy insights from some of the best-known experts in the crypto and blockchain space. One of them is the ‘Crypto Finance Conference,’ which is held from January 15-17 in St. Moritz, Switzerland.

Organizers of the conference are set to cater to every session to the specific needs of attendees. Some of the event’s principal speakers will be taking out some time to answer questions on stage as well as offstage. Extensive networking opportunities are also on the proposal, allowing members to probe into areas of particular interest and establish meaningful contacts.

The program is still under progress, but already, there is a range of sessions that will fascinate those who are keeping a close eye on geopolitical events in the blockchain industry. The first day will analyze the global effect of crypto and blockchain and offer forecasts about the future. 

There’s little uncertainty that the talk on the ‘development of central banking’ will examine the attitudes that countries are administering when it is concerned from Bitcoin to Libra. Stories from the global regulatory frontline are also going to be shared.

With crypto and blockchain frequently hitting the headlines and battles fought on several fronts, there’s probably much to discuss as business visionaries come together on one of Switzerland’s most elegant resort towns.

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