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Introduction

"If you want to see blockchain at scale in the United States, you need to see yourself as a policymaker first, then as an innovator." - Former Senator Jack Tate, Colorado (R-OH)

The words hung in the air of Snell & Wilmer's board room as a group of us met to discuss Colorado’s SPDI Banking Bill after the conclusion of the Colorado Blockchain Council report. It was 2019, and former Colorado Senator Jack Tate had just delivered what would prove to be a prophetic insight about the future of blockchain adoption. Five years later, Tate's wisdom resonates more powerfully than ever.

His message wasn't just about understanding policy—it was about identity. Builders must reimagine their role in the ecosystem: before writing code, before architecting systems, before launching protocols, they must first see themselves as shapers of policy.

Yet as I recently discovered at DC Fintech Week and the DC Crypto Policy Bootcamp, a striking disconnect exists. The halls of Washington buzz with crypto policy advocates—Coin Center, DeFi Fund, Stand With Crypto, along with industry giants like Polygon, Solana, Coinbase, Wormhole and a16z. But where are the builders? The very architects of this technological revolution are conspicuously absent from these critical conversations.

The contrast was laid bare by congressional staffers and policy experts on multiple panels. One staffer's comparison was particularly telling:

"The dairy farmers come in all the time, but the crypto builders don't." And when builders do make rare appearances, their approach often falls flat.

As another expert noted,

"If a crypto builder does come in, it's typically 'let me know how I can be a resource."

Over the past five months, I've traversed the North American tech landscape, from Chicago's industrial innovation to Seattle's tech corridors, from Austin's startup scene to Detroit's renaissance, from Salt Lake City to Washington D.C. In every city, I've connected with builder friends who share the same hesitations about policy engagement. Three questions consistently surface:

"Why engage now?"

"Where would I start?"

"How do I participate effectively?"

Behind these questions lies a complex web of resistance: an ideological commitment to decentralization, a deep-seated skepticism of traditional institutions, and genuine concern about regulatory impact on innovation. Many have adopted a wait-and-see approach or delegated their voice to trade organizations, fearing that direct engagement might somehow compromise their innovative spirit.

But here's what DC crypto policy experts want builders to understand: the time for waiting is over. When dairy farmers are more actively engaged in shaping policy than blockchain innovators, something needs to change. The path to mainstream adoption isn't paved solely with elegant code and innovative protocols—it's shaped by the regulatory frameworks that enable or inhibit their growth. As Tate recognized five years ago, success in this space requires a dual identity: policymaker first, innovator second.

The truth is, being a builder in 2024 and beyond means more than just building technology. It means building relationships, building understanding, and yes, building policy. The future of blockchain at scale depends not just on what we build, but on how we engage with the systems that govern its adoption.

Jack's words from that board room in 2019 weren't just an observation—they were a roadmap. For builders ready to embrace their role as policy architects, the question isn't whether to engage, but how soon they can start. And when they do, they need to bring more than just an offer to "be a resource"—they need to bring the same innovative thinking and problem-solving mindset that they apply to their technical work or when seeking venture capital.

My recent time in DC revealed both sobering challenges and unprecedented opportunities for the builder community. The 2024 election outcomes have already started to reshape the crypto policy landscape in ways that directly impact our industry's future.

In the next section, I'll share specific takeaways from my learnings with policymakers, regulatory experts, and industry leaders—practical insights that can help builders transform from passive observers into active participants in shaping the policies that will define our industry's future.

Because as Jack Tate understood, and as Washington is making increasingly clear: the future belongs to those who show up.

Next Section: Why Engage now (Part 1)

Why Onchain Builders Must Engage in Policy for U.S. Blockchain Adoption: Why Engage Now (Part 1)

Onchain Success

Nov 10, 2024

Crypto policy in Washington has reached a pivotal moment, with historic pro-crypto representation. Builders’ expertise is crucial to shape policies supporting innovation.

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