According to an expert of Blockchain system and Ripple’s CEO Brad Garlinghouse stated that how China is controlling Bitcoin and is trying to dominate over the cryptocurrency world, He hinted that most of the mining power of Bitcoin and other cryptocurrencies are located in China, in this way they had gathered the most influential power over this sector, he said “People are pretending that China does not control Bitcoin. There is this thing that is called the 51% attack, and if someone controls more than 50% of the mining power, they can control the future direction and vaster and past events of blockchain.”
According to him China is patronizing over many digital currencies which is mainly controlled by the superior power CCP. Also he said “Around 70% of mining capacity of Bitcoin-blockchain is in china. The CCP has been incredibly strategic in how they approached crypto. They are clearly focused on dominating this technology. Not only that but also As a global citizen, we saw the concerns around the way 5G Infrastructure was introduced and we are in the process of repeating that mistake in what I think is the battle over the future global financial infrastructure and payments”
Whatever he said about this issue, he has no doubt that Blockchain technology will definitely dominate on the transaction because it’s faster and more efficient.