A New Cold War: Supremacy for the Crypto-Economy
The one who first get control of Cryptocurrency World will dominate the future. But how is that about controlling the Cryptocurrency World? What does that actually means?
This new Cold War is handled into 3 scenarios. Once again, western world (United States of America) faces eastern world (Japan, China and South Korea).
Scenario 1: Hashing Power
Main Objective: To Dominate the Production of Strongest Cryptocurrencies
Who do I think is winning? Obviously Oriental World. Why? Let′s review de facts…
United States of America has a problem since decades ago with taxes and regulations as a cause for big companies for running away and settled up manufactures in China. There are more than 300 huge companies helping Oriental World winning this war.
Although western brands develop technologies related to this field, the eastern ones manufacture and supply more mining machines, for example, Terracoin (America) develop ASICs for Bitcoin, but Bitmain (China) is the largest ASICs manufacturer. As a result, eastern dominate the production of Bitcoins, where 5 out of the 6 biggest Bitcoin Miners Pool are Chinese with more than 50% of the hash power worldwide.
It is important for America to get fast solutions to manufacture more machines and supply a shortage local market on the extensive crytocurrencies option before is too late. Maybe China is winning this scenario with bitcoin, but this may change considering the variety options we have to prevail.
Scenario 2: Government Support
Main Objective: To give people confidence about the usage of Cryptocurrencies. Last April Japan officially recognized virtual currencies as a legal method of payment trough a Cabinet-signed law. This is way much further than United States Government is disposed to do.
We need law makers to move faster, we are losing this war and we′ll be regret in a short time from now. Our future is on the table, and we need to encourage companies to build bases in America.
Scenario 3: Trading
Main Objective: familiarize common people with this asset.
You might think this one we are winning, right? Well, unfortunately we are not.
Most South Korean exchanges are funded by multi-billion dollar corporations within the country. Korbit, South Korea’s second-largest exchange, is invested by SK Telecom, the largest telecommunications company in the country.
Media Campaign, concerns over the low saving rates in Japan and South Korea, the crackdown at China′s Central Bank earlier this year, has bring up more citizens and investors of the three countries turned to the Cryptocurrencies. According to the media publication Reuters, increased Asia citizen’s investment had an impact on bitcoin’s surge in 2017.
This year South Korea alone is becoming Bitcoin and Ethereum Powerhouse with such a demand that trades the highest volume on earth, with trading at a $100 and $1000 Premium for Ehtereum and Bitcoin over global average prize.
Today, the trading volume in Ethereum just in Korea is almost the same that in the entire world.
Source: https://www.ethnews.com/etherlive
Outcome of the Cold War
The statement of this war is quite simple, the one mastering criptocurrencies will dominate the economy in the future, because more and more financial mechanism will be developed in that system, bringing more confidence to common people to invest and trade with this virtual currency.
At the moment, we are losing badly, no matter how many entrepreneurs and ventures come along with this innovations, as long eastern leads the 3 scenarios we′ll be affected and dominated by them. It′s simple math, China dominating bank world and criptocurrency world give us little room to make our economic interest prevail.