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Brandon Possin, a Foreign Service Officer at the U.S. embassy in Tokyo, believes that the U.S. government is missing the bigger blockchain picture and is too focused on the risks and scams that plague existing crypto applications. Possin argues that the U.S. needs to embrace the internet’s inevitable evolution and has kept a close eye on China’s approach to blockchain. China has rolled out a state-backed suite of tools for developers, the Blockchain-based Services Network, to provide Web3 infrastructure and enable private-sector developers to build apps with features like self-executing smart contracts.
