Economists and commentators have made much in recent years of the rise of the Asian tigers. The prediction that the balance of economic power is shifting eastwards is nothing new but most analysis tends to focus on a traditional view of trade where Asian nations compete on cheaper manufacture of consumer and electronic goods, having a tech-savvy workforce, cheap service skills and other areas where the region is winning out on price or knowledge. But when it comes to new technologies like blockchain, cryptocurrencies and other frontier technology, the challenge from the East has perhaps been underestimated.

Despite their past…

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