It's open source, that's the key here.

As for control, yes SHA256 is a problem, not because of electricity but the fact that China has special chips faster than quantum computers to mine SHA256. The problem is that we don't know if Chinese miners are regular people mining in secret, or facilities controlled by the government.

For the America and Europe there are better choices, like Ethereum or Monero, they use ethash and X11 which are so called ASIC resistant algorithms, that means China has no chance to compete with western technology. All this data is publicly available on chain to and can be monitored live so people would notice immediately if anyone tried to fuck around.