The blockchain and cryptocurrency space is still far from mature, and Ava Labs CEO and founder Emin Gün Sirer has called on regulators to expand their technical literacy. Speaking at the annual Cornell Blockchain conference in New York City, Gün Sirer emphasized the importance of regulators being able to read and audit code.
The recent collapse of FTX and other crypto-related catastrophes have prompted a crackdown from lawmakers, but Gün Sirer believes that even the harshest of regulations cannot completely eradicate crypto. He argued that Generation Z, being digital natives, won’t allow this technology to be wiped out.
Despite the emergence of secret-sharing tech like zero-knowledge proofs (ZKP), Gün Sirer was skeptical about its scalability and the user experience it offers. He termed these solutions as ‘Godot’ solutions, a reference to Waiting for Godot, the famous absurdist play by Samuel Beckett, in which two characters await an expected but absent figure. Gün Sirer concluded by saying that if something doesn’t function today, there is likely a good reason for it.