We have a problem in the United States: What is needed is the government creating a blockchain platform that crypto startups can build on. Think about historically what the government adoption of the Telegraph or the Railway, among other government initiatives, did for the U.S. economy. Without the legal certainty that the technology is supported, its great potential cannot be realized in the United States. We are partially limited because of our excellence in legacy systems. There may also be fears of loss in employment statistics but all this is all rather short sighted.
I see daily how clients/advisees are interested in crypto transactions but are holding back because of lacking regulatory guidance. Were the government to embrace the technology by way of a government sponsored blockchain initiative or platform, the US would undoubtedly become a leader in the crypto economy very quickly. It’s time to embrace Blockchain Technology quickly!!!!
Russia and Singapore are already embracing Blockchain technology and Ethereum. If Russia implements Blockchain Technology and Ethereum first, it will gain similar advantages to those the Western countries realized at the start of the internet age because Blockchain Technology may have the same effect on businesses that the emergence on the internet once had — it would change business models and create enormous opportunities for growth.
Adoption of Ethereum in Russia has already been brisk also in the private sector: last week, Bloomberg reports that Russia’s state development bank VEB agreed to start using Ethereum for some administrative functions. Steelmaker Severstal PJSC tested Ethereum’s blockchain for secure transfer of international credit letters.
See evidence of Russia’s ambitions in Blockchain: http://www.zerohedge.com/news/2017-06-12/putin-meets-ethereum-founder-create-national-virtual-currency