China and the United States Face off in Blockchain Tech Race

April 6, 2019

Although the United States has an edge against China when it comes to cryptocurrency, one wouldn’t bet against the Asian behemoth in the race to develop blockchain technology.

There is no denying that the United States and China are the two key players in the world of blockchain. This toe-to-toe, two-horse race leaves us wondering who is going to come out on top, with the finish line still miles away given that blockchain is still in its infancy.

In terms of job vacancies in the blockchain industry, the United States is the clear winner. The Next Web reported that nearly 50 percent of blockchain-related jobs available on Glassdoor, a recruitment website, are offered by U.S. companies, followed by those in the United Kingdom and India.

Data collected by The Next Web showed that 2,616 jobs were available in the U.S. compared to just 42 vacancies in China.

On the other hand, in terms of determination and commitment, China seems to have a slight edge. President Xi Jinping has openly stated that blockchain is a major breakthrough in the realm of technology. His comments were followed by the state television broadcaster CCTV issuing a one-hour report, elaborating how blockchain is more valuable than the Internet.

Although neither of the superpowers has clear cryptocurrency policy, several U.S. states have adopted a regulatory framework to legalize digital assets, as opposed to China, where the trading of digital tokens like Bitcoin is still illegal.

Despite the U.S.’s slight advantage in cryptocurrency, blockchain experts are more attentive to China’s technological policies than those of the U.S.

Source: thecryptocurrencypost.net

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