Blockchain technology stands at a pivotal moment, poised to play an even larger role in the growth and development of the broader tech industry. The new government in the world’s largest economy, the United States, has already made substantial moves, potentially heralding a significant shift for the better.
In an exclusive interview, Nikil Viswanathan, Co-Founder of the leading blockchain development platform Alchemy, shared his insights on how recent developments could fuel blockchain-driven tech growth. Alchemy is building the critical infrastructure layer for blockchain development, often called the “AWS of Web3.”
Regulatory Clarity as a Catalyst
Viswanathan believes the new administration’s actions signal a significant shift. “First of all, we are seeing real action – moving away from the regulatory confusion that has held everyone back. The administration has already removed significant barriers like SAB 121 that prevented banks from participating in the crypto space,” he explained. He expressed particular enthusiasm for the formation of the Digital Asset Markets Working Group which includes officials from the Treasury, Justice Department, and the Securities and Exchange Commission (SEC). This coordinated approach, he says, “creates a coordinated approach to regulation that actually makes sense. And when you combine clear jurisdictional boundaries with technology-neutral regulations, you are giving businesses the certainty they need to innovate.” Viswanathan anticipates this clarity will accelerate the adoption of crucial blockchain infrastructure. Last year, for example, rollup adoption surged 5.8x as developers used Alchemy’s infrastructure.
He suggests that stronger regulatory foundations will benefit financial institutions while supercharging innovation. He noted, “this kind of practical scalability is what American tech companies have been waiting for.”
Coordination in Congress Signals Commitment
Viswanathan emphasized the increasing coordination between Congress and the new administration in the White House. “The joint working group between the House and Senate shows there is a serious commitment to getting this right,” he stated. He cited the GENIUS Act, introduced by Senator Bill Hagerty, as an example of smart oversight for stablecoins while maintaining a balance between state and federal control. “We have never had this level of thoughtful regulation before. The focus on transparent decision-making and support across all sectors of the economy – that is exactly what the industry has been asking for,” he explained. For American companies, this regulatory clarity, combined with robust infrastructure, will allow them to “focus on building rather than navigating uncertainty,” Viswanathan pointed out.
Blockchain-Driven Tech Growth: The Future
Viswanathan anticipates growth will manifest in several key areas:
- Return of Capital: He anticipates the return of venture capital that has flowed away from the crypto space because of uncertainty.
- Blockchain as a Core Tech Strategy: Alchemy data indicates a shift from basic blockchain integrations to sophisticated applications, suggesting blockchain is critical for U.S. tech strategy.
- Smart Wallet Adoption: Viswanathan foresees that clearer regulations will boost mainstream adoption of smart wallets. Alchemy’s Smart Wallets Infrastructure experienced a 4x increase in transaction volume. Therefore developers are now empowered to create solutions, like smart wallets, that move from the complex blockchain.
Since its inception in 2017, Alchemy has focused on building a foundational infrastructure layer for blockchain development. It is currently supporting innovative projects around the world.
