Emin Gün Sirer, who leads the development of the Avalanche protocol, shared notes on Twitter that he will rely on during a hearing before the U.S. House Financial Services Committee. Circle CEO Jeremy Allaire, Steptoe & Johnson law firm partner Coy Garrison, and National Futures Association (NFA) President and CEO Thomas Sexton III are also scheduled to participate in the hearing.
Avalanche’s chief development officer intends to champion the development of secure blockchain innovation in the U.S., with a focus on asset tokenization. According to Gun Sirer, blockchain and tokenization are designed to solve problems that traditional systems struggle to cope with. For example: creating unique digital assets, tracking ownership, secure business processes:
.
“Tokenization is not designed to circumvent laws.. This is an enhancement that can be leveraged through blockchain. Just as computer databases were created to modernize paper filing cabinets.”
Ava Labs CEO is confident: distributed registries are more resilient, secure and transparent than traditional systems. And decentralized networks have nothing to do with securities laws. Cyrer noted the growing popularity of artificial intelligence (AI): this further proves the importance of blockchain technology as the world becomes increasingly digitized.
Earlier, the founder of Avalanche said that the first sign of the maturity of the cryptocurrency market will be the advantage of stabelcoins over other crypto-assets.