There are two superpowers in the 21st century, China and the US and their respective innovations in the blockchain put both the countries in the first place in the technological list of leaders. But which one will emerge as a superpower in the blockchain world?
One way to compare industries is to study the jobs offered by each of them in the field of blockchain. In this case the United States prevailed. According to data compiled by The Next Web, almost half of the related vacancies on the Glassdoor recruitment site worldwide are based in the United States, and then in the United Kingdom and India. Only 42 vacancies were announced in China, compared with 2616 in the United States. The top three employers are IBM with 110 open vacancies followed by Ernst & Young, Oracle, and Deloit(they all are well known corporate giants in the technology world).
The approach of Opposite government towards blockchain is welcoming and positive. However, China can surpass itself – this is the commitment of its government to the development of technology and open support by President Xi Jinping for the blockchain, calling it a “breakthrough” technology. After the President’s positive comments, the state-controlled CCTV media station conducted an hour special explanation explaining that “the value of the blockchain is 10 times higher than on the Internet.”
The country’s central bank called the People’s Bank of China conducted an advanced tests of the blockchain in the field of finance and experts are unanimous that when it comes to the basic technological developments, China is ahead of the United States.
The rapid industrialization and development of China as a nation since the 1980s show how powerful the government’s commitment was and also did not demonstrate the benefits of having a heterogeneous authoritarian leadership, no matter how controversial this concept may be.
Though neither of the countries have a so-called cryptocurrency policy, but it is the Chinese government that has taken a much tougher stance. In the US, many states are also making regulatory efforts to embrace cryptocurrency instruments on their individual levels, but cryptocurrency trading remains legal, as is the conduct of the original coin offers, unlike in China.
There is no clear leader in the blockchain race in its current form, but many experts are still focused on China’s robust development policy and the quality of innovation.