According to crypto industry leaders, the U.S. blockchain industry is lagging behind progressive jurisdictions, especially in Asia.
Fiona Murray, managing director of #Ripple Asia Pacific, told Cointelegraph that the lack of openness in the U. S. is causing businesses to move overseas.
While many in the industry are frustrated with the current regulatory situation, there are other important factors hindering growth in the U. S. Industry insiders and executives have identified six key areas that the U. S. must urgently address if it wants to remain competitive in the global marketplace.
Anthony Georgiades, founder of #Web3 layer-1 Pastel and general partner at venture capital firm Innovating Capital, said the U. S. needs to focus more on human capital development. Georgiades told Cointelegraph that despite growing interest from institutional investors and contributors, the number of #blockchain developers in the U. S. continues to decline, and the country is struggling to attract and retain the talent needed to build the necessary infrastructure.
To counter this trend, targeted efforts are needed, such as funding specialized blockchain education programs at universities, accelerating visa programs for qualified foreign developers, and supporting public-private partnerships to spur developer initiatives. Finally, Georgiades wants the U. S. to develop a talent-focused program, including research grants and tax incentives for companies that invest in blockchain and develop talent.
Murray told Cointelegraph that the U. S. also needs a supportive banking community.
Ogle, a hacker negotiator and founder of blockchain startup Glue, agrees.
The best way to improve the crypto industry in the U. S. , according to Glue, is to make it "not so complicated" and allow people to "do banking without bans and restrictions if they say their company is in the crypto business.
Mr. Ogle, who lives in the U. S.
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