• Daniel Schoenberger, Chief Legal Officer at Web3 Foundation, presented about the Polkadot Network and Web3 vision to US lawmakers.
• Web3 has the potential to revolutionize the internet with data security, decentralization, and user-centricity.
• MeWe recently adopted Project Liberty’s Decentralized Social Network Protocol which runs on the Polkadot network, showing its versatility in facilitating decentralized applications and services.
Polkadot Takes Center Stage
Daniel Schoenberger, Chief Legal Officer at Web3 Foundation, was invited by US lawmakers to make a presentation on the Polkadot network and the Web3 vision. According to him, Web3 aims to return data to users and revolutionize the internet into a more secure, decentralized, and user-centric one. The technology has the potential for transparent records of land ownership or digital intellectual properties management.
MeWe Adopts DSNP
MeWe is a social network with over 20 million members that focuses on privacy. They recently announced their adoption of Decentralized Social Network Protocol (DSNP) created by Frank McCourt from Project Liberty. This protocol gives users greater control over their data as it is open-source but not tied to a specific company. It also operates on Polkadot’s network showcasing its versatility in facilitating decentralized applications and services.
Polkadot’s Potential
Schoenberger highlighted that Polkadot is a next-generation blockchain protocol that seeks to unite blockchains for interoperability, scalability, and shared security among others. With this technology in place, there are possibilities for secure transfers of digital assets between different chains as well as improved scalability solutions for developers building on blockchain networks.
US Regulatory Framework
The CLO mentioned how current US regulatory framework cripples innovation within this space which hinders progress towards achieving its full potential in terms of efficiency and connectivity amongst other things. He further stressed how important it is to have comprehensive legislative regulations put into place so that these technologies can be fully used by everyday people all around the world without any restrictions or limitations attached with them.
Conclusion
Overall this article highlights how Polkadot has taken center stage with Daniel Schoenberger testifying before US Congress about its advantages as well as addressing current regulatory frameworks stifling innovation within this space. With MeWe adopting DSNP from Project Liberty running on Polkadot’s network this shows just one example of what can be done when using these technologies together in an efficient manner – making it easier than ever before for people everywhere access data securely while allowing developers build scalable solutions for everyday usage without being restricted by existing regulations or laws
