According to Ben Weiss, COO of CoinFlip, the world’s largest Bitcoin ATM operator, the next big technology company, comparable to companies like Amazon and Apple, will not come from the US, but will be founded in Asia. And it will be based on blockchain technology.
Weiss argued in an interview that the United States has been lagging behind when it comes to cryptocurrencies and the regulations required to keep cryptocurrencies in check.
While the regulation ultimately violates the decentralized nature of digital assets, it does say that at least something is necessary for Bitcoin and its altcoin cousins to ever reach conventional or legitimate states.
Asia could be the backdrop for a large company based on blockchain technology
He believes Asia will have a strong hand over the United States because regulation is much clearer in every country on the continent. Not only is regulation lagging behind here, but the rules that have already been set are not particularly easy to understand.
In particular, Weiss is confident that the big company will come from a region like Singapore, which is often referred to as very crypto-friendly. He also anticipates that the next big blockchain company will come from entrepreneurs within Singapore’s borders.
That must be bigger than it is
Now, with the presidential election approaching and Bitcoin topping the $ 12,400 mark for the first time in about two months, Weiss is surprised that Bitcoin isn’t a major issue on campaigning issues. He confirms:
“I am amazed that no big presidential candidate has lagged completely behind Bitcoin yet … I haven’t heard a specific plan from Biden or anyone else about Bitcoin regulation, but there has to be sensible regulation.” There needs to be regulatory clarity as the United States is currently losing the blockchain battle to many different countries. “
And the fact is that despite the growing interest in digital currency space in the crypto industry like regulators and trade authorities in the United States, there is still great uncertainty. They did not issue any updated policy or guidelines prior to the November presidential election.
Weiss believes that buying Bitcoin is one of the most political purchases an investor can make as it is the most democratic and all-encompassing financial revolution.
The US government is ignoring Bitcoin’s growth
Regulations regarding blockchain companies and the entire cryptocurrency scene are needed to protect consumers and stimulate innovation.
More and more institutional investors are realizing the importance of securing Bitcoin, but retail and institutional investors are not supporting the innovation.
Despite the massive growth of digital money, there is still great uncertainty in this industry. Even before the presidential election in November, US guidelines or guidelines regarding crypto cash are missing.
Weiss also believes in the need for presidential candidates to be at the forefront of the blockchain industry.. A cryptocurrency candidate has a good chance of winning young people’s votes in the next 15 to 16 years, says Weiss. However, none of the presidential candidates have provided the bitcoin support they need.