IoTeX, a provider of decentralized physical infrastructure networks, has joined the Blockchain Association, an advocacy group representing the crypto industry in Washington, D.C.
In a statement, the Blockchain Association said that decentralized physical infrastructure networks represent a “groundbreaking category of blockchain technology that connects real-world devices and infrastructure to the digital world.” From IoT-enabled smart devices to tokenized real-world assets, decentralized physical infrastructure networks have transformative potential, but their adoption requires regulatory clarity.
“Collaboration with policymakers is the cornerstone of building thriving decentralized physical infrastructure networks and (a) crypto ecosystem,” IoTeX co-founder and CEO Raullen Chai said. “By joining Blockchain Association, IoTeX is bringing its expertise to the table to create clear pathways for decentralized physical infrastructure network projects to launch and scale without worrying about legal grey areas while ensuring accessibility for all users. Together, we can unlock the full potential of decentralized infrastructure and empower the masses under the guidance of clear regulation.”
The Blockchain Association, comprising nearly 100 industry companies and protocols, works to establish “sensible and innovation-friendly regulatory frameworks” for blockchain technology. IoTeX said it plans to actively contribute to working groups within the association, leveraging its position to drive meaningful progress in policy discussions.
“We’re thrilled to welcome IoTeX to the Blockchain Association,” added Dan Spuller, senior director of industry affairs at the Blockchain Association. “Their leadership in the DePIN space will bring invaluable insights as we advocate for policies that foster innovation and ensure decentralized networks benefit everyone.”
With experience collaborating with professional organizations like the Industrial Internet Consortium and IEEE, IoTeX believes it is well-positioned to drive impactful dialogues in Washington.
IoTeX’s contribution will include participation in several working groups within the Blockchain Association, with a focus on policies that enable decentralized physical infrastructure network innovation in the U.S. market. This includes addressing regulatory challenges like compliance for decentralized networks, ensuring equitable access for users, and supporting the tokenization of physical assets under U.S. law.