The new government under U.S. President Donald Trump has already made significant moves around blockchain, digital assets, and cryptocurrency like no predecessor has done, including the signing of a crypto-centric executive order and the appointment of a first-of-its-kind presidential crypto council.

In an exclusive with International Business Times, Nikil Viswanathan, the co-founder of leading blockchain development platform Alchemy, discussed why the dawn of a new administration could drive blockchain-driven tech growth in the United States, which is at the forefront of the tech race.

Blockchain Can Transform US Tech Now That Regulations are Expected to Ease Under Trump

Trump has been many things, from business mogul to politician, but no one saw his “crypto president” persona coming. After all, there was a time when he said Bitcoin seemed like a “scam.”

Fast forward to 2023 and 2024, Trump’s change of heart became more apparent. Blockchain has been present since at least 2008, but no other administration before this has made significant moves to explore the technology.

For Viswanathan, the change in views is quite apparent.

“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 said.

Viswanathan is particularly thrilled by the establishment of a new Digital Asset Markets Working Group. “By bringing together Treasury, Justice, and Securities and Exchange Commission (SEC) officials, they are creating 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,” he said.

He expects clarity to further accelerate adoption of critical blockchain infrastructure. Already last year, rollup adoption surged 5.8x as developers used Alchemy infrastructure to launch scalable networks that onboard millions of users worldwide.

With regulations expected to ease and provide more clarity under a pro-innovation government, Viswanathan sees a future where strong regulatory foundations benefit financial institutions while also surpercharging innovation.

“This kind of practical scalability is what American tech companies have been waiting for,” he noted.

Congress Coordination Highlights New Administration’s Commitment to Rebuild Ties

Trump has often said the previous administration waged a “war on crypto.” His comments aren’t far from industry leaders saying the Biden government sought to destroy the emerging industry.

On an objective point of view, Viswanathan believes the new administration is very supportive of blockchain growth. He noted that this is especially showcased by increasing coordination between Congress and the Trump White House “to rebuild American leadership in blockchain.”

“The joint working group between the House and Senate shows there is a serious commitment to getting this right,” he said.

As an example, he used the GENIUS Act introduced by Sen. Bill Hagerty, R-Tenn., which provides smart oversight over stablecoins while maintaining the right balance between state and federal control. “We have never had this level of thoughtful regulation before,” he said.

“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.

Furthermore, the combination of more regulatory clarity and robust infrastructure means American companies “can now focus on building rather than navigating uncertainty,” Viswanathan pointed out. Instead of focusing on regulation alone, the new administration is working toward “enabling a business environment that drives economic growth here at home.”

How Blockchain-Powered Tech Can Grow Under Trump

Since Trump won the election late last year, many analysts have said the projection for blockchain growth has become promising. While the reaction of the crypto market to policy shifts have been apparent, given Bitcoin’s ascent to new all-time highs, the biggest take is the evolution in structural changes that Viswanathan said could have a fundamental impact on transforming the industry.

He expects growth to manifest in the following factors:

• The return of capital – Viswanathan noted how many venture capital firms veered away toward other sectors such as AI in recent years due to regulatory uncertainty around crypto. “With a clearer framework emerging, that capital is likely to return,” he projected.
• Blockchain becoming a “core” part of U.S. tech strategy – Alchemy data shows that there is a shift from basic blockchain integrations to sophisticated, production-ready applications, highlighting how blockchain has reached a point where it can play a crucial role in the country’s tech strategy.
• Smart wallet adoption – Viswanathan expects the shift in regulatory certainty to help drive mainstream adoption for smart wallets. Alchemy’s Smart Wallets Infrastructure (Account Kit) has already driven a 4x increase in transaction volume, making onchain experiences seamless for mainstream users, and with better clarity expected in the coming years in the U.S., developers now have moved “from the defensive posture” to an offensive one wherein they are more confident to produce solutions such as smart wallets that abstract away from the complexity of blockchain.

Alchemy’s Role in the Push Toward Blockchain-Powered Tech Transformation

Since 2017, Alchemy has worked on building the critical infrastructure layer for blockchain development, often described as “the AWS of Web3.”

The company has since powered some of the most innovative projects around the world, supporting everything from Worldcoin’s identity protocol to popular market prediction platform Polymarket.

“Being a Silicon Valley-based company, we have made a conscious decision to build this infrastructure right here in America. And now, with the regulatory environment shifting to support domestic innovation, we are seeing increased interest from companies that previously sat on the sidelines,” Viswanathan said.

Notably, Alchemy has also partnered with Layer 2 chain Soneium, developed by Sony Block Solutions Labs – a joint venture by Sony Group and Startale.

With its enterprise-grade reliability across its solutions such as Token API, NFT API, Gas Manager, and Embedded Wallets, Alchemy is at the frontline of pushing blockchain as a major player in U.S. tech growth and development.