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Germany's ex-Finance Minister Karl-Theodor zu Guttenberg, spoke of a hidden geo-political battlefield for global domination, relating to the tokenized economy.

Hung-Over or Jet-Lagged: China Rules

Gutenberg said that the sombre outlook maybe was down to his hangover or jetlag. The ex-politician nowadays works as an investor in New York. «But the international harmonization of Blockchain regulation won't come that quickly.» He warned investors and Blockchain entrepreneurs that there was one economic power they should look out for: «China.»

While «the U.S. does too little and Europe isn't able», the Chinese had understood that the Blockchain technology had created the precondition to achieve economic and therefore geopolitical dominance.

Therefore, the crypto and Blockchain community had to get ready for huge risks: regulation of cryto, Blockchain and artificial intelligence as a battlefield of global powers.

Regulation as a Competitive Advantage

A little less «gloomy» – to put it in the words of von Guttenberg – was the mood at another regulation panel, with Swiss lawmaker Ruedi Noser, Blockchain adviser Loretta Joseph and tech investor and professor Michael Sung.

Noser urged for international cooperation on regulation, while Joseph said that regulation was a way of promoting a location as a place to do business. Smaller countries such as Malta, Mauritius, Switzerland and Liechtenstein had a chance to excel with a good regulatory environment.

And Still: China Wins

But if you listened carefully to Sung's conclusion it became clear that he believes the global run for regulation is already over, with the winner being China. Ironical, given the giant economy barred the entire crypto economy from its shores a short while ago.

The reason why China had taken to such drastic steps were capital flight and terror financing. But now, China has been quick to prepare the ground for the tokenized economy, Sung said.

And Here's the China Coin

The Communist Party has established several special areas where Blockchain applications can be tested, compared and selected for wider use. The development of the necessary regulation is being advanced at a rapid pace, said Sung.

China's goal is no less than the promotion and implementation of the Blockchain technology and the merger with the existing economic infrastructure.

«China is working on the crypto-renminbi. The China coin will come,» Sung emphasized. The end of the dollar as the global reserve currency is taking shape.