Emin G?n Sirer says the United States “won the first wave of the internet revolution” because it enabled responsible innovation. Now, it must do the same with blockchain.
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Ava Labs CEO Emin G?n Sirer will be calling on United States officials to “nurture” and “support” responsible blockchain innovation, warning that they face “disastrous consequences” if they don’t.
G?n Sirer’s comments in defense of what he describes as a “revolutionary technology” is part of a testimony that he is scheduled to give to the U.S. House Financial Services Committee on June 13. The audience will include Chair Patrick McHenry, Ranking Member Maxine Waters and other members of the House committee.
G?n Sirer’s testimony aims to explain how blockchain can “transform society” by making digital services “more efficient, reliable and accessible to all.”
My written testimony for the House Financial Services Committee hearing on blockchains and the future of digital assets is now public.
You can read it to preview what I’ll say and live stream the hearing at 2 p.m. ET tomorrow here:https://t.co/bv2pWTwCVT https://t.co/dtRlBmuN4F
The hearing comes amid a slew of regulatory enforcement actions by the U.S. Securities Exchange Commission and U.S. Senator Elizabeth Warren’s indicated plans to build an “anti-crypto army.”
But G?n Sirer fears that such action may backfire, with severe consequences for the country’s economy:
He added that a “failure” to provide a “sensible regulatory framework” would not only blowback economic growth but also “make it easier for bad actors to conduct illicit activities.”
I am honored to discuss the need for free, safe, and responsible blockchain innovation in the U.S. before the House Financial Services Committee next Tuesday. I look forward to advocating for the technical and scientific merits of these systems. https://t.co/FUuuXmdrg1
The Ava Labs CEO explained that the U.S. “won the first wave of the internet revolution” in the early 2000s because it enabled “responsible freedom to innovate.”
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He’s now calling on U.S. officials to “follow the same path” in what he describes as an increasingly “digitally-native world.”
“Blockchains are the clear technological answer to these needs,” G?n Sirer said, adding that blockchains will one day capture a large share of the world’s economic value:
G?n Sirer isn’t the only industry figure to share this view either.
In an interview with CNBC Crypto World on June 8, Chainlink Labs CEO Sergey Nazarov explained that it is “absolutely inevitable” that much of the world’s economic value will soon find its way on-chain.
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