• The US House of Representatives held a hearing to discuss the “Future of Digital Assets: Measuring the Regulatory Gaps in the Digital Asset Markets”. Daniel Schoenberger, Chief Legal Officer at Web3 Foundation, was invited to make a presentation on the Polkadot network and Web3 vision.
• Schoenberger highlighted that Web3 has the potential to revolutionize the internet into a more secure, decentralized, and user-centric one. He also mentioned Polkadot as a next-generation blockchain protocol that unites blockchains to share security, interoperability, and scalability.
• MeWe, a social network with over 20 million members which focuses on privacy announced its adoption of Decentralized Social Network Protocol (DSNP) created by Frank McCourt from Project Liberty which is built on Polkadot network showcasing its versatility and potential in facilitating decentralized applications and services.
Hearing on ‘The Future of Digital Assets’
The US House of Representatives recently held a hearing on “The Future of Digital Assets: Measuring the Regulatory Gaps in the Digital Asset Markets”. During this hearing, Daniel Schoenberger, Chief Legal Officer at Web3 Foundation was invited to make a presentation about Polkadot network and Web3 vision.
Web3 Vision for Secure & Decentralized Internet
Schoenberger highlighted that Web3 aims to return data to users and revolutionize the internet into a more secure, decentralized, and user-centric one with much focus on efficiency, innovation, and connectivity. It can offer transparent records for land ownership, facilitate decentralized identities for digital intellectual properties etc.
MeWe Adopts DSNP Built On Polkadot
MeWe is a social network with over 20 million members which focuses on privacy recently announced its adoption of Decentralized Social Network Protocol (DSNP) created by Frank McCourt from Project Liberty which is built on Polkadot network showcasing its versatility and potential in facilitating decentralized applications and services.
Polkadot Aims To Unite Blockchains
Schoenberger mentioned Polkadot as the next-generation blockchain protocol that has been designed to unite blockchains for sharing security, interoperability & scalability among them which can create new possibilities across multiple industries such as finance & healthcare etc.
Current Regulatory Framework Cripples Innovation
Schoenberger argued before lawmakers that current US regulatory framework cripples Web3 innovation hence stressing upon comprehensive legislative & regulatory approaches towards these digital assets so that they could be used effectively & efficiently without any legal restrictions or limitations hampering their growth & development