a16z crypto

Making the U.S. the crypto capital: What it would take The U.S. seems to be turning its combative stance on blockchains and crypto toward a more supportive one that offers guidance and clarity on the rules for builders to follow. While it’s still early, a number of encouraging steps have already been taken across government toward that end. New leadership, new rules, new task forces — all of these help give the crypto industry something that it has sorely lacked: a meaningful path forward. Whereas recent years were marked by lawsuits against startups, turf wars between regulatory agencies, angry letters from lawmakers, incidents of debanking, and regulation-by-enforcement, the past few weeks signal a much more optimistic, pro-tech approach. From the White House, we’ve seen the appointment of an AI & Crypto Czar and an executive order declaring support for blockchain development. The Securities & Exchange Commission (SEC) has formed a new crypto task force and repealed Staff Accounting Bulletin 121, a damaging rule that had held back crypto development. And in both houses of Congress, prominent legislators have indicated a willingness to enshrine clear rules of the road for the industry in legislation. To foster the conversation between government officials and blockchain experts, we’ve gathered 11 views from industry experts on issues ranging from taxes and the freedom to stake, to broader issues like encouraging decentralization and reforming the U.S. regulatory regime. These views offer policymakers important considerations for how to approach crypto regulation, ensuring that the U.S. leads this critical shift toward the next generation of the internet. Read them here: https://lnkd.in/gjbYGDXR

Physical infrastructure networks — like telecommunications, energy, water, and transportation — are often natural monopolies. The result: little incentive for innovation, not to mention horrible customer experiences, bad user interfaces, lackluster service, and slow response times. We can do better. Introducing: DePIN. Guy Wuollet of a16z crypto explains that when built correctly, DePIN protocols encourage users and small businesses to participate in physical infrastructure networks, and to govern their evolution over time while providing transparent incentives for contribution. Just as the Internet is dominated by user generated content, DePIN offers the opportunity for the physical world to be dominated by user generated services. More on the impact DePIN could have on industries including energy, and what the future may hold: https://lnkd.in/g9UkEp-V

NFTs unlock incredible opportunities for creators. But regulatory uncertainty is stifling innovation and the most creative minds online. Today, we urged the SEC to bring clarity through a new safe harbor and crowdfunding regime—so creators can build without fear of regulators. Our full letter can be found here: https://lnkd.in/gZPaMxRP

In this post, investment partner Guy Wuollet explains what DePIN is and why it matters. He also shares his framework for evaluating DePIN protocols and the questions to ask when building a DePIN protocol, focusing especially on the problem of verification. https://lnkd.in/g9UkEp-V

Today’s episode of web3 with a16z features a conversation between Eigen Labs Founder Sreeram Kannan, formerly an associate professor at the University of Washington, where he led its Blockchain Lab, and a16z crypto General Partner Ali Yahya. We dig into big ideas, like what people mean when they call blockchains "truth machines." We also share practical advice and insights, like how to go about deciding on your life’s work; what you can do to keep increasing — and compounding — your leverage; plus, how a bungled interview question can change your life. Check it out here: https://lnkd.in/gWfTXsfq

What do people really mean when they talk about blockchain performance? Aptos Labs’ Head of Research Sasha Spiegelman joins a16z crypto Head of Research Tim Roughgarden and show host Robert Hackett to discuss ways technologists are trying to maximize throughput and minimize latency for blockchains. Tune in: https://lnkd.in/g5YkrXsE

The success of any regulatory approach for network tokens hinges on facilitating progressive decentralization—including via Airdrops and Incentive-Based Rewards. Current rules are murky and entrepreneurs need clarity. So, we submitted a safe harbor proposal with a 5-part test. Our full letter can be found here: https://lnkd.in/gWyscqVS

We’re thrilled to welcome Emily Xie to Voices Onchain, @a16zCrypto's program amplifying creators who are boldly blending art and technology to unlock new creative possibilities. Emily uses code and computation to create lifelike textures inspired by textiles, collage, and tradition. Her generative work explores the balance between chance and control, the organic and the systematic, bridging history with technology. With her art showcased globally, Emily credits the blockchain space for empowering her creative independence and launching her career. Welcome to Voices Onchain Emily! Who else should be part of VO? Drop names below and nominate the voices shaping the future of creativity and innovation. Thank you @creeefs for nominating Emily!

Today, we submitted our response to the first 6 critical questions of the SEC's recent request for information. Across 50 pages, we tackle the most significant and complex crypto issues with a simple, powerful principle that fits in a single sentence:

Recently, we went to Capitol Hill with some amazing creators in the crypto space to advocate for the industry. They shared their stories with policymakers about blockchains' impact and how artists use crypto. Thank you to Emily Xie, Micah Johnson, Sasha Stiles, & Julian Gilliam for your leadership. 🇺🇸 Christopher Lyons