Crypto in China: Is the West making a big mistake?
China is building its own metaverse while the EU gets bogged down in the details.
China is building its own metaverse, while the EU gets lost in the details. Why we should not underestimate China when it comes to crypto.
China's real estate sector is wobbling and strict COVID measures are slowing growth. Prof. Dr.-Ing. Katarina Adam from the Berlin University of Applied Sciences explains why we should take the Communist Party's metaverse plans seriously right now and not rush to judge China's crypto-innovation power.
Katarina Adam, as a professor, is not only a proponent of blockchain technology but also an entrepreneur, consultant, and author. Late at night, after work, when others are asleep, she learns Chinese to unwind so she can travel to China without a translator.
China can do more than we think, even in the blockchain sector
Speaking about the future of China, she warns against Western arrogance. In the blockchain sector, we in the West could soon find ourselves in a bad light, especially because the Chinese government plans to publish its state-owned metaverse in 2024. Despite the obvious dystopian assumptions and a digital central-bank money that’s already helping monitor the population, the professor sees no turning back. Her message, especially to the German government: more fault tolerance and less "German Angst".
Saving countries from drowning with DAOs
The professor is not just using blockchain tech in her own ventures but also for research projects that serve a good cause. She collaborates with other universities and institutions to help countries threatened by rising sea levels.
New funding structures must be built using decentralized autonomous organizations (DAOs). The countries at risk of drowning in the coming years would receive particularly efficient funding this way.
