DON'T FEAR CHINA'S RECENT MOVE ON CRYPTOCURRENCY

Why China will never stop the cryptocurrency train!
The facts -by RonDior

Let’s take a look at the top 10 worlds most technologically advanced countries. Here’s the list according to a recent world business report:

1. Japan
2. United States
3. Finland
4. United Kingdom
5. Germany
6. South Korea
7. China
8. France
9. Canada
10. Russia

One thing all of these countries have in common is that none of them want to fall out of the top ten. That being said fact is countries such as India and Estonia are gaining on these world leaders at an alarming rate.

What's this have to do with cryptocurrency you may ask? To answer this question let's first look at how a country becomes a world leader in tech. When talking technology what separates one country from another? Would it be money, government regulations, freedom or maybe it's simply a matter of size?

While it’s true all of these things are needed to become a world tech leader, one thing all advanced civilizations have in common is that they know how to nurture and encourage innovation.

Fact is, becoming a leader is not simply about inventing things. Innovation goes much deeper. An [invention] is the creation of a product or introduction of a process for the first time. Thomas Edison was an inventor. [Innovation] happens when someone improves on or makes a significant contribution to something that has already been invented. Steve Jobs was an innovator.

So while invention is important, innovation is essential for any society to improve or advance in a technological way. What then breeds innovation? Some might argue that money breeds innovation but truth be told money can often work to hinder it. Money chases money and sadly innovation is rarely ever profitable especially in infancy. The fact is innovation can be extremely expensive and costly, which brings us to a second issue. Most of the worlds true innovators start out poor.

These two issues find burgeoning countries in a very complex predicament. Big money is often funded to the inventor and rarely ever the innovator. We see this in today's current IPO scene. In order for most young startup companies to get anywhere, they will often need to onboard large investors. Investors, then in turn, want full control over their project. Sadly, this will eventually cease any innovation to come or exist.

This has long been the case with innovation for many years. However, over the past several years something to drastically change this has occurred. A phenomenon called an ICO or [Initial Coin Offering] was born. This phenomenon took the conventional business startup world by storm. How so?

As they say "out of necessity comes invention" and so the "ICO" not to be confused with the "IPO", turned out to be a perfect solution for once struggling innovators of the tomorrow. For the first time in history, a true innovator had a fair chance to turn their wildest dreams into reality. Suddenly, with nothing more than a great idea and a few smart people, a company could now raise enough money to acquire all necessary recourses to get their project off the ground.

What has been the result? In just a short period of time innovators have been able to raise close to $1 billion dollars allowing them to fund some of the most interesting projects the tech industry has seen in many years. 100’s of companies spanning over 30 industries have brought new and exciting ideas to the forefront. Many of which would have never existed until now. What’s even more interesting is due to the amount of money that's being raised, much larger players are now getting involved only helping to further advance the innovators ecosystem. This has given some of the worlds most talented and creative people an opportunity to show off what they can accomplish allowing them to contribute in a way they never could before.

In conclusion, what does this whole article have to do with China’s most recent decision to shut down ICO's? It’s simple really. China wants to be #1 on the list above and won't rest until they get there. Especially, with two of their largest rivals Japan and the United States so far ahead.

China knows that shutting down cryptocurrency and ICOs, in particular, would be as disastrous to their future technology as would be a heart surgeon cutting off a main artery to a patient's heart. If China were as much as slow down the greatest champion for innovation the world's ever known while others welcome it with open arms, it would spell sure disaster for China’s hopes of technological superiority.

That’s why I tell you with little uncertainty that China will resolve this issue sooner rather than later. Even though China will try to regulate cryptos along with ICO’s, they will never do anything to stop the cryptocurrency train.