Blockchain For Advance Growth Stated In Testimony of Ava Lab CEO

Dr. Emin Gun Sirer, who believes in providing simple financial solutions with the help of blockchain technology, has raised concerns about it. He argues that U.S. officials should pay attention to the explicable blockchain solutions. Otherwise, the results will be undesirable.

He is going to give proof in front of the U.S. House Financial Services Committee on June 13th. The committee will be held in Rayburn, Texas. The board has not declared the topic of discussion, but it expects the related concern to be raised for consideration.

On June 6th, the committee chairman, Patrick McHenry, declared the hearing title of the committee will be Future of Digital Assets- Providing Clarity for the Digital Assets Ecosystem. This meeting is scheduled for June 13, 2 pm EST.

SEC Actions Could to be Discussed

Although the board has not declared anything related to discussion, the crypto communities are expecting discussion related to compelling issues like SEC regulations on coinbase, assets as securities, etc.

The CEO of Ava Labs says that statements of Senator Elizabeth Warren may have affected the enforcement action against crypto. Her Anti-Crypto Army has picked up steam. Warren recently tweeted on crypto states- crypto enables bad actors from drug trafficking to rogue states, which is a threat to national securities.

After the above-mentioned tweets, the crusader anti-crypto army is gaining attraction. Three U.S. financial regulators have published a joint statement. The statement reflects the Warren’s tweet.

Gun Sirer, in his testimony, has described how this technology can transform life by providing ease, transparency, and security. The title of his proof is- Fostering Responsible Growth of Blockchain Technology. He has summarized his discussion in 10 pages which includes free, safe, and responsible growth that responsible blockchain can provide.

Testimony Includes Blockchain Advantages

He also highlighted that there were several testimonies related to blockchain that were provided by lawyers and business people before, but here in this testimony, he has focused on the sensible regulatory network.

Further stating on social media, he said that the proper regulatory framework holds importance; otherwise, there will be no economic growth. On the contrary, it will encourage bad actors.

He added that the U.S. had made progress by winning the first wave of the internet in the 2000s by allowing the innovations without restriction. The same attitude of freedom is needed for the blockchain revolution.

We are advancing in the state of the digital era, which requires AI, Virtual reality, and Web3; we have to depend on local digital transfers.

Sergey Nazarov, CEO of Chainlink Volumes, holds the same views for blockchain. In an interview, he stated that sooner or later, the world’s economic value will find its way into the chains.