Cryptocurrencies May Thrive Due To China-US “Cold War” - Ethereum Creator - Android

Whether people agree with this observation or not, but recent events have suggested that the United States is currently engaged… Read More

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Whether people agree with this observation or not, but recent events have suggested that the United States is currently engaged in a “Cold War” with China.

However, as compared to “innate displays” of warfare recorded in history books, these off-putting standoffs between the preeminent power and the emerging one are taking place over computer chips, mobile phone apps and related software.

What’s the aftermath of this technological conflict between the U.S. and China? Do we see a winner rising anytime soon?

The guy who created Ethereum, Vitalik Buterin, has offered a unique perspective to address this situation.

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Discussing his sentiments with a venture capital firm, Buterin sees crypto winning the long-term game. It doesn’t matter if the Chinese tech companies or the U.S. government win. “It’s definitely true that a lot of the conflict, even if it’s a negative-sum for humanity overall, is good for crypto”, he stated.

Referencing America’s aggressive attitude toward Chinese tech consortiums, the Ethereum founder suggested that the Trump administration took the worst possible turn when it comes to addressing allegations of a rumored cyber warfare. He said,

Basically, if your strategy for handling the scary things that you’re worried about in a Chinese tech company is to go after China, then you’re going to be very vulnerable to any non-Chinese tech company, or anyone from any other part of the world that’s trying to do exactly the same thing

When prompted to comment about “how cryptocurrencies come into play in this scenario”, Buterin said that the entire landscape of the decentralized network, which supports cryptocurrencies, will always provide leverage to people for escaping tariffs that were imposed without a logical reason.

The Logic Problem

The Ethereum founder used a logic problem to support his views. He explained a scenario in which three people take part in a gunfight. Person A is more skilled than B, and B is better than C. Who will win?

C wins the game.

Buterin explained,

The reason why this is true is because A and B both know that A and B are each other’s greatest threat, and so they’re just going to basically kill each other, and so C’s the most likely to emerge as the winner

If you still haven’t guessed it, cryptocurrencies can be C. “Crypto is definitely one of those things that’s well-positioned to be C, that’s the winner of a great conflict between whether it’s one state versus another state or states versus corporations”, he added.

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Well, of course, the guy who invented Ethereum is speculating in broader terms, since the issue in principle remains complicated.

However, his prediction that “China and the United States would soon have the ability to surveil the movements of each other’s citizens via satellite”— a decentralized technology operating independently of governments, sounds about right.

The post Cryptocurrencies May Thrive Due To China-US “Cold War”: Ethereum Creator appeared first on .