|Nov 01, 2018 11:31 PM||By: John Patrick Mullin | 4993 Views|
Indian government’s pro-blockchain, anti-crypto stance is costing India dearly in the race of blockchain leadership. While everyone in the Indian crypto circle understands this very well, it became even further evident today when Binance CEO Changpeng Zhao named five countries that are currently competing to win the race of blockchain leadership. Those countries according to him are Japan, Singapore, Taiwan, Korea, and Hong Kong. No India, no China.
We now see Singapore, Taiwan, Japan, Korea and Hong Kong competing to be the blockchain hub in Asia. What do you think? I personally hope all of them success.— CZ Binance (@cz_binance) November 1, 2018
A crucial point about CZ’s tweet is that not just India but China was more left out by him. It’s well-known that China holds one of the largest portfolios of blockchain patents in the whole world. Despite that, though, it’s not going to be a leader in the blockchain space – at least not according to CZ. This clearly shows how necessary cryptocurrencies are for blockchain. There’s no way any country can begin the blockchain race by ditching cryptocurrencies. And CZ is not someone whose views can be ignored – he is one of the most critical and successful leaders in cryptocurrency and marketing circles.
It’s also deserving noting that Indian talent also remains in the top administration of various leading crypto and blockchain companies. For example, Ripple’s Head of Infrastructure Innovation is Dilip Rao. Coinbase CTO is Balaji Srinivasan, and VP of Operations and Technology is Tina Bhatnagar. Shivani Siroya (CEO of InVenture) remains on the Board of Stellar, and Ananda Radhakrishna sits on the Board of LedgerX.
Newly about 20 Indians had also raised a blockchain investment fund in the USA somewhat of India due to our uncertain regulatory environment. Had regulations been exact in India, at least some of these people could indeed have concentrated on India as well.