- Polygon has launched The Value Prop.
- The Value Prop is an open database that hosts a variety of blockchain use cases.
Polygon has introduced a new open database dubbed The Value Prop that hosts blockchain use cases. The Value Prop is designed in such a way that it highlights the different positive use cases of blockchain technology throughout the world. In the meantime, it hosts as many as 39 use cases and over 300 applications, but the number is expected to continue growing.
The blockchain technology use cases are categorized into seven groups; education, security, and risk management, social impact and sustainability, finance, business and marketing, governance and information technology. There is also a section where testimonials from people can be uploaded. These testimonials which would either be in video or written forms, will contain messages from people speaking about how blockchain has positively changed their lives.
According to a report by Coindesk, this project was earlier referred to as “Wikipedia for use cases” when it was first conceived. A change of title became vital after Polygon Labs Chief Policy Officer, Rebecca Rettig pointed out that “This is just the beginning. It’s not like this is going to be a stagnant website.” ” she added:
It’s going to grow as people see it and say, ‘Oh, we want more applications that are on Solana to be listed on here. Please put them up on the website
The recent happenings in the digital currency ecosystem necessitate such innovation, especially after the United States Securities and Exchange Commission (SEC) filed two separate lawsuits against Binance and Coinbase over unregistered securities.
Since the time these lawsuits were issued, so much uncertainty has been introduced into the broad crypto industry and has, in turn, hampered its growth. One policymaker from G20 highlighted the need to see a body of use cases of blockchain technology that does not present the vulnerabilities of crypto.
Polygon The Value Prop: Defined Use Case
The policymaker believes that once this is achieved, it would tilt discussions towards positive regulations focused on pushing mainstream adoption of the technology. While it seems like regulators are attempting to crack down on crypto due to concerns bordering on investor protection, there is a further need to emphasise the positive influence of blockchain technology.
Rettig is positive that the results from Polygon’s The Value Prop would bring about a change in how regulators perceive the crypto industry. In her opinion, there would be a shift from seeing the industry as “sort of crypto casinos.” At the same time, it would be beneficial to the general public as they would now have answers to questions like; What is blockchain good for? What problems does it solve?
Already, Singapore’s central bank launched a pilot program to investigate use cases of digital assets in tokenization and Decentralized Finance (DeFi). There is still ongoing research into more use cases of blockchain technology, especially as it cuts across several sectors.
