Chris Larsen, the founder of Ripple, has appreciated China’s positive move towards the blockchain industry. In his interview at the San Francisco Blockchain Week, Larsen stated being impressed by China, but also cited the pressure US regulators are facing following the Chinese president, Xi Jinping’s endorsement of the technology.
He said that this adoption is a phenomenal move and big news as China is one big organization, which beliefs in Blockchain being critically important. “And I think now with China’s move, putting that on the list of critical technologies right up there with AI and quantum computing, that’s huge. I think that’s probably a watershed moment. I think what it means, though, is obviously the US regulators have got to step up.”
Larsen also highlighted that such a role played by China should be the guideline for the regulators to embrace the ledger tech. As per the founder, the dealings with the financial institutions result in a delay for the regulators to act. “The other difference, though, is finance is just way more complicated than when we’re just dealing with data. Way more complicated. Words can do so much, but money can buy bullets.” He further encourages the authorities to step up and stresses the danger of falling behind prevalent in the United States.