Blockchain Race is On!
China started the race of Blockchain while USA doesn’t even know a race exists.

All technology moves from analog to digital creating losers and winners in the process. The BIGGEST technology of mankind is money since it touches all businesses, governments and people. It’s probably easy to dismiss money thinking it’s not a “technology”, however once you do preliminary research it’s obvious money is just a technology like all others. I equate the current technology of money to “analog” and new blockchain and cryptocurrency as “digital”.
atm=>dtm……analog traditional money to digital tokens & money.
Money is now making the shift from analog to digital starting with Bitcoin, then Ethereum, then EOS, Tron and other 3rd generation blockchains. However, more important than the protocol is what is happening with the contenders in this race to be the dominant dtm system for the entire Earth. This doesn’t mean their will only be one dtm, just like there are many currencies around the world. It just means, which digital currency will be the dominant like the US dollar is currently the dominant fiat currency in the world.
Unlike fiat currencies controlled by governments, there are now three separate “bodies” vying for dominance: Governments, Corporations, and Liberty/Freedom/Cyberpunks. Bitcoin represents the biggest digital currency for the Freedom group, with others like Ethereum, EOS and others following the owner-less model. Facebook Libra is the first attempt at a global corporate controlled digital currency. Most governments are doing very little about digital currencies…..at least until last week when China President Xi announced that the country would focus on blockchain technology. Few days later they even banned the term “blockchain is a scam” after years against blockchain and cryptocurrency. Meanwhile, in the USA, most government officials don’t even understand money, let alone digital currencies. Also, since the USA currently holds the dominant position of money in the analog/fiat world, Innovator's Dilemma takes hold and prevents USA from being the leader for digital money.
I’ve always thought that China would become the dominant country in the world over the next 100 years, however, now I believe they are accelerating this timetable by first becoming the dominant digital currency. It’s unlikely that China could unseat the US dollar as a world currency, so their best strategy was announced to become the DIGITAL world currency.
THE RACE IS ON!!
For government digital currency, China is CLEARLY leading the race as they have the most Bitcoin mining, EOS block producers, citizens already well adapted to digital payment through Wechat and Alipay for any street merchant. Facebook is leading for corporate digital currency with Libra, however anything could happen in this arena as other huge companies like Amazon could step in at anytime. Unfortunately, the freedom group have not established enough power for a dominant position. It’s possible they could still lead the effort, but not with the current situation. In my opinion, Bitcoin and Ethereum will never become the dominant protocol since they can’t even handle CryptoKitties. In fact no substantal solutions other than store of value or trading have been created on either platform.
The only way that the freedom group could win at this point is if Bitcoin and Etherum developers and companies all joined a scalable, fast and usable 3rd generation blockchain (like EOS). Currently with Vitalik technically and spiritually lost and Bitcoin maximalists, it’s not likely to happen. Facebook Libra product will continue to get pressure because FB is the worst company in the history of mankind, however many other corporations could jump in and lead at anytime.
In my opinion, China is likely to win the race for the dominant government digital currency….unless something changes….which it always does!

