The cryptocurrency market has managed to establish a stronghold in some countries like the United States and China. However, information pertaining to the market differs between the two countries, partly due to the language barrier.
Joyce Yang, the Founder of Global Coin Research, spoke about how Weibo, the Chinese version of Twitter, differed from American Twitter in terms of information about cryptocurrencies, on Anthony Pompliano’s podcast ‘Off the Chain’.
Yang took the example of Tron, stating that their marketing techniques contained different messages for their Chinese counterparts when compared to the ones in the US. According to her, this is not just in online media. In fact, even the content that CEOs like Changpeng Zhao of Binance provide to the media of the two nations differ significantly, she said.
Interviewers in China ask more direct questions to CEOs and the reporters have more access to them compared to the US, said Joyce, who is well-versed in Mandarin and translates interviews. This is when Yang discovered that some pieces of information provided by crypto-personalities were never made available in English interviews or to crypto-followers in the West.
This gap in terms of information also exists online. Yang explained that Asian crypto-followers were aware of the happenings in the American market. However, according to her, it is not the same with American crypto-followers, which casues a knowledge gap.
An increased rush of funds and projects is coming to the US from Asian countries. Tron, for instance, entered the US market after having achieved a strong position in the Chinese market. According to the Founder of Global Chain Research, Tron along with EOS and Binance could be the most valuable companies in Asia continuing to run in the long-term as they have the money.
However, talking about Bitcoin and China, Yang was of the view that China would be the hardest place for Bitcoin [BTC] to replace fiat. China creates and manages a narrative wherein Yuan is readily made available for people to use. The only use of Bitcoin for them will be to carry out international transfers.
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