Polygon calls on EU lawmakers to address smart contracts in Data Act

Polygon Labs, an Ethereum layer-2 scaling solution, has called connected policymakers successful the European Union to “clarify the scope and intent” successful authorities targeting astute contracts.

In an unfastened missive published to members of the European Parliament, the European Council, and the European Commission connected April 17, Polygon proposed Article 30 nether the Data Act beryllium amended to use to permissioned astute declaration based-systems owned and operated by an ‘enterprise’, arsenic opposed to permissionless nether the existent wording. The level said hardware wallet developer Ledger had besides signed up to petition the authorities amended bespeak its intent.

“Polygon Labs has an involvement successful this substance due to the fact that we question to guarantee the maturation and liable improvement of permissionless blockchain-based systems globally,” said the letter. “We respectfully petition that you see the projected revisions to Art. 30 [...] to guarantee that this caller instrumentality does not inadvertently seizure open, transparent and permissionless parts of emerging blockchain technology.”

1/ Today @0xPolygonLabs published an unfastened missive to the EU connected Art. 30 of the #DataAct, which could person superior consequences for permissionless astute contracts. @Ledger has joined successful proposing amendments to constrictive Art. 30 to support decentralized bundle development. Read pic.twitter.com/AZHGCm14sQ

Article 30 successful the mentation of the Data Act passed by the European Parliament successful March elaborate ‘essential requirements regarding astute contracts for information sharing’. Polygon claimed that should the enactment walk without amendments to clarify the quality of parties — if immoderate — operating astute contracts, the authorities “would not beryllium enforceable for open, permissionless and decentralized astute declaration applications and would substantially inhibit innovation and economical maturation successful the EU.”

Other experts person raised akin concerns with the Data Act perchance affecting the mode regulators could grip astute contracts. Michael Lewellen, caput of solutions architecture astatine OpenZeppelin, told Cointelegraph successful March that the wording which would let for a ‘kill switch’ of astute contracts “undermines immutability guarantees and introduces a constituent of failure.”

Related: The aboriginal of astute declaration adoption for enterprises

Polygon requested the Data Act “remain consistent” with the Markets successful Crypto Assets framework, scheduled for a last vote connected April 19 aft extended negotiations betwixt the European Parliament, the European Council, and the European Commission. The Data Act volition apt look akin attraction from EU policymakers earlier reaching the last signifier of the law, giving Polygon’s petition clip for consideration.

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