Blockchain
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The CEO of Ava Labs said that blockchain and asset tokenization were not created specifically to circumvent laws, so regulators should pass regulations that would not interfere with the development of these technologies.
Emin Gün Sirer, who is leading the development of the Avalanche protocol, tweeted notes that he will rely on during his House Financial Services Committee hearing. Circle CEO Jeremy Allaire, partner at law firm Steptoe & Johnson Coy Garrison, and National Futures Association (NFA) President and CEO Thomas Sexton III are also expected to attend the hearing.
The head of development at Avalanche intends to advocate for the development of secure blockchain innovation in the US, with a focus on asset tokenization. According to Gün Sirer, blockchain and tokenization are designed to solve problems that are difficult for traditional systems to cope with. For example: creating unique digital assets, tracking ownership, secure business processes:
“Tokenization is not designed to circumvent laws. This is an improvement that can be exploited thanks to the blockchain. In the same way that computer bases were created to modernize paper filing cabinets.
The Ava Labs CEO is confident that distributed ledgers are more resilient, secure, and transparent than traditional systems. At the same time, decentralized networks have nothing to do with securities laws. Sirer noted the rise in popularity of artificial intelligence (AI): this once again proves the importance of blockchain technology as the world becomes more and more digitized.
Earlier, the founder of Avalanche said that the first sign of the maturity of the cryptocurrency market will be the advantage of stablecoins over other crypto assets.
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