Emin Gün Sirer, the CEO of Ava Labs, has called on US officials to support responsible blockchain innovation and to avoid potentially disastrous consequences if they fail to do so. He will testify to the US House Financial Services Committee on June 13, including Chair Patrick McHenry, Ranking Member Maxine Waters and other members of the House Committee. Gün Sirer’s testimony will explain how blockchain can transform society by making digital services more efficient and accessible.
Gün Sirer warns that the US economy could suffer disastrous consequences if officials fail to support blockchain technology, which he describes as revolutionary. The CEO fears that the regulatory enforcement actions by the US Securities Exchange Commission (SEC) and Elizabeth Warren’s anti-crypto army plan could backfire. He added, “failure to see the power of blockchain technology…will have disastrous consequences.” Gün Sirer believes that if officials fail to provide a sensible regulatory framework, it could make it easier for bad actors to conduct illicit activities and could blowback economic growth.
Gün Sirer believes that the US won the first wave of the internet revolution in the early 2000s because of its responsible freedom to innovate. He now calls on officials to follow the same path in an increasingly digitally-native world. Gün Sirer believes that blockchain technology provides the clear technological answer to the world’s needs as it moves towards a more digitally-native world, aided by AI, virtual reality, and a work-from-home society. He added that blockchains will one day capture a large share of the world’s economic value.
Gün Sirer is not the only industry figure to share this view. In an interview with CNBC Crypto World on June 8, Sergey Nazarov, CEO of Chainlink Labs, explained that much of the world’s economic value would soon find its way on-chain, and it is “absolutely inevitable.”
Emin Gün Sirer urges US officials to nurture and support responsible blockchain innovation and provide a sensible regulatory framework to avoid disastrous consequences. He believes that blockchain technology can transform society by making digital services more efficient and accessible to all. Gün Sirer warns that failure to see the power of blockchain technology could have disastrous consequences on the US economy and make it easier for bad actors to conduct illicit activities.