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Jyoti Singh
May 6, 2020
by Jyoti Singh

United States Could Find Solution For Its Financial Woes In Bitcoin

United States
On the one hand, the United States has become the hub of technology but on the other hand, when it comes to cryptocurrencies, the country remains very cautious about it.

In the recent time period, countries like Singapore and the United Kingdom are ahead of the US, regarding the adoption of cryptocurrencies, as they believe that it has the ability to resolve the issues associated with the traditional financial system.

Binance.US CEO Shares Her Views In Bloc Stars

The CEO of Binance.US, Catherin Coley, while talking about Bitcoin surge, said, “One of the reasons why we have seen such better global adoption was that the pain points that Bitcoin resolved”.

Recently, Coley made her appearance in Bloc Stars, a podcast by the Ripple CTO David Schwartz’s, and explained that the adoption of Bitcoin, Ethereum and XRPs is growing outside the US because the companies continue to resolve the prevailing issues in these cryptos.

But she also mentioned that what appears to be crypto problem in other countries is not actually a problem in the US.

While giving an example, the CEO of Binance.US stated that the US dollar is the leading currency for international trading when the US-based companies have to make their payment, they face a problem.

The company could resolve this issue of payment with the help of cryptocurrencies but from the country’s point of view, remittance is not an issue for it.

Asian Countries Ahead Of US In Crypto Adoption

However, China is way ahead of the US as it recognized the potential of cryptocurrency.

According to Coley, crypto not only resolves the payment issue but also act as an economic solution to those things which threatens the globalization.

She understands that the US regulators are the elderly people, therefore, they do not understand crypto-technology much. But Coley believes that the new generation would usher with the change in time.

In July 2019, US President Donald Trump tweeted that he could not trust Bitcoin and cryptocurrencies. Later, while commenting on his tweet, many of the crypto enthusiasts tried to explain to him the benefits of it, but he still did not get convinced.

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    United States Could Find Solution For Its Financial Woes In Bitcoin
    Jyoti Singh
    Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

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