Pal Predicts The US And China To Become A Country That Controls The Cryptocurrency Industry

Cryptocurrency illustration. (Photo; Doc. Unsplash)

JAKARTA - Shape Pal, former executive Goldman Sachs and CEO of Real Vision, recently predicted that there would be three major powers to rule the crypto industry in the future. According to him, the United States, China, and the secular global financial system will enforce themselves to form a control structure over the crypto industry that is similar to how traditional finance is already operating.

Pal said that the US is likely to adopt broad regulations so that few people can operate in this industry, creating oligopoly. Meanwhile, the Chinese Communist Party (CCP) determines who can operate in the crypto industry in Asia.

Pal said that a global regulatory arbitration would connect the two forces and form a larger environment than the two. However, he also said that different scenarios could occur in the future.

According to Pal, the crypto industry can be governed by several strong powers and high integrity, or disbanded and controlled by several small groups that operate unofficially. Therefore, he reminded that it is very important not to predict the future with certainty.

Pal also hopes for great growth in crypto adoption and technological advances such as Artificial Intelligence (AI) in the near future. According to him, AI technology is the first example of Reed Law, a law related to network growth that is accelerating as the number of users increases.

Even so, Pal is not entirely confident about the future of Bitcoin. Although he predicts that the price of Bitcoin will increase to US$50,000 (around Rp754 million) in a year, he states that he does not know exactly what will happen to Bitcoin.

According to some analysts, the tendency of regulation and scrutiny in traditional financial sectors can have a negative impact on the growth of the crypto industry. However, several other analysts argue that strict rules and surveillance can actually help build trust and encourage wider crypto adoption.

In the end, the development and future of the crypto industry is still very difficult to predict. As a crypto investor or user, it is important to understand that the industry is still in its early stages of development and is very vulnerable to sharp market fluctuations.