IoTeX's Larry Pang Takes Charge as Co-Chair of Blockchain DePIN Group

Larry Pang Appointed as Co-Chair of the Blockchain Association's DePIN Group

In an exciting development for the blockchain community, Larry Pang, the head of ecosystem at IoTeX, has been elected as the co-chair of the DePIN Working Group within the Blockchain Association. His appointment, alongside Jacob Hample from Filecoin, marks a significant step for the DePIN initiative, which focuses on promoting decentralized physical infrastructure networks. This initiative is part of the Blockchain Association's recent implementation of 23 working groups aimed at fostering collaboration and addressing policy challenges within the evolving crypto landscape in the United States.

The Blockchain Association stands at the forefront of advocating for a progressive policy environment to support the digital asset economy. With over 100 members, including prominent investors and tech companies, the organization plays a pivotal role in educating policymakers about blockchain technology and striving for advancements in the crypto sphere. This close alliance with the newly-established crypto-friendly administration in Washington D.C. will allow the Blockchain Association and its working groups to influence the forthcoming policies and regulations essential for the crypto industry’s success.

Larry Pang's election as co-chair builds on IoTeX's active engagement with the Blockchain Association since its entry last December. This move solidifies IoTeX's position as a key advocate for innovation and cryptocurrency policy. Pang expressed his gratitude for the opportunity to lead the DePIN Working Group, emphasizing the importance of establishing policies that support the growth of decentralized physical infrastructure networks. He stated, "I'm honored to be elected co-chair of the DePIN Working Group and excited to take the lead with my fellow colleagues in shaping policies that will advance decentralized physical infrastructure networks. Together, we aim to foster industry standards that accelerate the real-world adoption of DePIN and ensure the United States is at the forefront of DePIN innovation."

Raullen Chai, co-founder and CEO of IoTeX, praised Pang's leadership, reiterating the importance of having influential voices in the regulatory discussions that will impact decentralized infrastructure. Chai noted that as the blockchain industry evolves, strong advocates will be necessary to shape governing frameworks that enable the growth of decentralized infrastructure projects within the U.S. market.

With this strategic appointment, IoTeX aims to continue its proactive efforts in the blockchain space, driving forward its mission to connect the digital and physical worlds through innovative technological solutions. The leadership role in the DePIN Working Group exemplifies IoTeX's dedication to influencing the regulatory landscape and ensuring a supportive environment for blockchain advancements. The potential for what lies ahead for both IoTeX and the broader ecosystem of blockchain technology continues to grow as they embark on this new journey in shaping the future of decentralized infrastructure.

This pivotal leadership change within the Blockchain Association highlights the growing recognition of the importance of decentralized physical infrastructure in the larger crypto ecosystem. By placing experienced leaders at the helm, both IoTeX and the Blockchain Association are positioning themselves to guide the industry toward a more collaborative and innovation-driven future.