a16z Legal Advisor: The core significance of CLARITYAct is to give decentralized networks independent legal status

On May 15, Miles Jennings, general counsel of a16z, wrote an article expressing his views on the CLARITY Act, arguing that the core significance of the bill is not purely regulatory compliance, but to provide decentralized blockchain networks for the first time. An independent legal framework that is different from corporate law. The article points out that the current legal system takes the company as the default organizational form and requires the existence of a controlling party. Application of it to blockchain networks leads to concentration of power and middlemen grabbing value, which violates the distributed design of the network itself. Jennings believes that blockchain networks can allocate value to marginal participants rather than concentrating it at the center, and the CLARITY Act provides legal feasibility for this path.