- Ripple’s CEO Brad Garlinghouse Impressed With China’s Approach to Blockchain technology
- Ripple XRP Price Finds Support at $0.1950 But Gaining Momentum to Move Above the $0.2000 Level is Difficult
Ripple News Today – It’s no longer news that China is one of the leading pioneers of blockchain technology. As the country explores blockchain technology, it is also exploring regulation. Since a lack of proper regulation is one of the factors that is currently blocking the global adoption of cryptocurrencies and the underlying blockchain technology, it makes sense that China is tweaking its approach. The CEO of Ripple, Brad Garlinghouse, recently took note of the progress that China has made so far. Brad Garlinghouse said that China has done far better than the United States in terms of blockchain regulation.
Ripple News Today – Garlinghouse Impressed With China’s Exploration of Blockchain Technology
Recently, China started testing its national digital currency in Hangzhou, Hainan, and Shenzhen. The Chinese cryptocurrency, which is built on an infrastructure that is quite similar to the blockchain that altcoins are developed. During a speech at the Chamber of Digital Commerce Parallel Summit on the 17th of July, Garlinghouse said that he appreciates China’s efforts in the development and regulation of blockchain technology. He said; “In some ways, I’m in awe of it. These technologies may, in fact, be very foundational for the future of how financial systems work, and they want to make sure that they have capabilities at the heart of them.”
XRP (XRP) Price Today – XRP / USD
For the past few years, Chinese miners have been the primary miners of Bitcoin BTC and Ethereum ETH. The biggest Bitcoin miner farms in the world are based in China and this is only possible because of the government’s positive attitude towards technology. Garlinghouse said that authorities in the United States still haven’t gotten near China’s level when it comes to blockchain regulation. He said:
“Twenty-five years ago the U.S. was a leader in making the internet what it is today, but part of that came from regulatory clarity.”
He said that China isn’t the only Asian country that is laying the groundwork for blockchain regulation. Other countries like Japan, Thailand, India, and Malaysia are also picking up the pace.
Ripple XRP Price Finds Support at $0.1950 But Gaining Momentum to Move Above the $0.2000 Level is Difficult
In other news, Ripple XRP has been unable to move above the $0.2000 level. Even if the token has managed to gather strong support at the $0.19500 level, gaining ground above it is difficult. At the time of writing, the price of the token was $0.196836. The token is down by 0.88% against the USD and down by 0.01% against the price of Bitcoin BTC. The trading volume over a 24 hour period is $886,237,062 and the market capitalization is $8,711,516,388.