According to crypto industry leaders, the US is falling behind more progressive jurisdictions, particularly in Asia. Experts believe that the lack of open-mindedness in the US is driving business overseas. This article explores 6 key aspects that the national economy must consider to stay competitive.
Talent Development
Anthony Georgiades, founder of Web3 layer-1 Pastel and general partner at VC firm Innovating Capital, believes the US needs to do more to nurture talent. Despite growing interest from institutions and investors, the US struggles to attract and retain the necessary talent.
Banking Support
Fiona Murray of Ripple Asia Pacific emphasizes the importance of a supportive banking environment. Ogle, founder of the Glue blockchain, adds that crypto companies should be able to use banking services without risk of bans or restrictions.
User Experience
Erik LaPaglia of blockchain-based real estate platform Propy argues that the general public does not yet understand and accept blockchain as part of everyday life. Better public education and simpler user interfaces could significantly improve the situation.
To remain competitive, the US needs to focus on talent development, banking support, user experience enhancement, and international collaboration. Examples from other countries, such as Singapore, show the prospects for successful development.
