Bitcoin Bulls And Bears: Tech Execs Discuss What’s in Store For Cryptocurrency

Seeing the U.S. already fall behind China in the race to 5G, Brad Garlinghouse is worried another hotly contested technological battle is headed in the same direction: the race to cryptocurrency preeminence.

As the CEO of Ripple––a software company focused on solving cross-border payment inefficiencies using blockchain technology––Garlinghouse is frustrated with what he believes to be the U.S.’s confused regulatory approach to the cryptocurrency market.

“The U.S., right now, is out of sync with other major economies like Japan and the U.K. and Singapore, where you do have a single, clear regulatory framework that has provided a level playing field,” Garlinghouse says. “China’s been leaving others in the dust in the race around digital currencies and blockchain technologies… The pandemic has accelerated the world’s move away from paper money, and producing the world’s first central bank digital currency, which is something that China is well ahead of where others are, could put China in the driver’s seat to steer the future of payments and currency.”