According to Ben Weiss, the chief operating officer of Coin Flip, the next big tech company – comparable to the likes of both Amazon and Apple – will not stem from the United States but will instead be created within Asia.
Ben Weiss: The Next Tech Company Will Come From Asia
He says that the United States has fallen behind when it comes to cryptocurrency and the regulation necessary to keep crypto in check. While regulation ultimately goes against the decentralized nature of digital assets, he says that at least some is necessary if bitcoin and its altcoin cousins are to ever reach mainstream or legitimate statuses.
He believes Asia will hold a strong hand over the United States in that regulation is much clearer throughout the countries lying on the continent. Here, not only is regulation lagging, but the rules that have already been laid out are not particularly easy to understand. Democratic presidential candidates such as businessman Andrew Yang and publishing mogul Michael Bloomberg stated during their runs for the White House that they were looking to make the rules regarding crypto much clearer should they garner the role of commander-in-chief this coming November.
However, this wasn’t enough for anyone to steer any serious votes their way and as a result, both candidates had no choice but to suspend their campaigns rather early.
Still, even though most Americans aren’t yet intrigued by the idea of clear crypto regulation, that doesn’t mean it’s not necessary. The space is growing like mad, and without rules that make sense, the cryptocurrency arena can never be as strong as some would like it to be.
Specifically, Weiss is confident that the big company in mind will come from a region such as Singapore, which is often referred to as very crypto friendly. He says the next big blockchain company will come from entrepreneurs within Singapore’s borders.
This Needs to Be Bigger Than It Is
As the presidential election nears and bitcoin has surged beyond the $12,400 mark for the first time roughly two months, Weiss is surprised bitcoin hasn’t been a bigger issue when it comes to campaign issues. He states:
I’m surprised no major presidential candidate has gotten fully behind bitcoin yet… I haven’t heard any specific plans from Biden or anyone on bitcoin regulation, but there needs to be sensible regulation. There needs to be regulatory clarity because the US is losing the blockchain battle right now to a lot of different countries.
The bitcoin price is currently at $12,471. This is a surge of roughly $500 over the past 24 hours, though Weiss is confident that the asset is nowhere near done. He believes the currency could strike the $13,500 mark in the coming days, and that while the US government has done everything it can to virtually ignore bitcoin on every level, he believes it will have to look into it soon.