Bitcoin is under the control of China due to the fact that the country is located the largest mining pools of its production. This was stated by CEO of Ripple brad Garlinghouse, writes TheStreet.

According to him, no major economy will not allow bitcoin became the world currency.

“How do we know that China will not intervene? Many countries want to use money, which is controlled by China? This will not happen”, — he said.

Note, Chinese mining pools, Antpool, F2Pool and BTC.TOP control for 59.7% of the bitcoin network hash rate yet.


Brad Garlinghouse believes that bitcoin has become the universal remedy for all problems.

“For payments in network bitcoin requires 45 minutes in the Ripple network it may take four seconds. Banks will use what is effective and cheaper. If you put the best product at the best price, the banks will use it”, — said the head of the Ripple.

He also expressed the opinion that the blockchain will not destroy the banks, but rather will play an important role in the financial ecosystem in the near future.

We will remind, in may brad Garlinghouse stated that bitcoin as a technology will lose its relevance.