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House Energy and Commerce Committee Subcommittee Discusses Blockchain Technology and the Future of Web3 with Crypto Industry Members

On June 7, the House Energy and Commerce Committee Subcommittee on Innovation, Data and Commerce held a hearing on blockchain technology and the future of Web3. Crypto industry members and legal experts, including Ryan Wyatt, president of Polygon Labs, testified before the committee.

Wyatt discussed the potential of blockchain technology and its value to users, as well as the benefits of building a well-regulated blockchain ecosystem in the United States. He argued that blockchains offer a solution to the "value extraction" problem on the internet and can democratize the internet by creating a Web3 based on decentralized and transparent systems.

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