Crypto Analyzer

Polygon Labs Reveals Core Policy Principles to Advocate for Sound Laws in the Web3 Ecosystem

Today, Polygon Labs released its Core Policy Principles. These principles will guide the company’s advocacy for web3-friendly laws. These principles are crucial as policymakers worldwide are attempting to regulate web3 technology more effectively than ever.

This core principle is focused on software development protection to ensure innovation. Proposed laws to regulate writing and publishing code or make developers financial intermediaries should be opposed. Protecting software development will ensure that developers continue to be able build freely and transparently, thereby fostering innovation in the web3 area.

The second core principle stresses that decentralization is different and that laws must address decentralized technology. Although regulatory goals such as consumer protection and market integrity remain important, they must be met in a way that does not force centralization. Decentralization can help us build a stronger, more resilient web3 ecosystem.

The third core principle is for laws to regulate activities rather than technology. This tech-neutral approach ensures laws that are always relevant and adaptable to the changing web3 ecosystem. Instead of regulating technology as such, we should instead regulate services offered by web3 companies and individuals.

Fourth core principle: Security and transparency are key to user protection. We can make sure that users are secure and safe when using decentralized protocols by focusing on strong disclosures and sound technology.

Polygon Labs is committed overall to transparency and collaboration when advocating for sound rules for the web3 eco-system. We are all in this together, even though the waters may seem rough right now. We will continue to work with policymakers as well as the community to build an innovative and resilient web3 ecosystem. Visit our GitHub to learn more and get in touch.