- Polygon Labs introduces an open database, ‘The Value Prop’, featuring 39 use cases and over 300 applications, demonstrating the wide-ranging potential of blockchain technology.
- The platform offers an in-depth understanding of blockchain applications across seven verticals, aiming to shift the narrative of blockchain being limited to cryptocurrency, and making it more approachable for regulators and policymakers.
As an eminent player in Ethereum scaling solutions, Polygon Labs unveiled ‘The Value Prop’ on Thursday, a novel, open database that encapsulates the broad-ranging efficacy of blockchain technology across various global applications. The repository, currently hosting 39 distinctive use cases along with more than 300 applications, is set to experience expansion as blockchain technology continues to evolve.
Envisioned as a ‘Wikipedia for blockchain use cases’, ‘The Value Prop’ is poised to witness growth, according to Rebecca Rettig, Chief Policy Officer at Polygon Labs, as the blockchain community becomes more aware of it. She anticipates that as more people discover this resource, they will desire to include additional applications from other networks like Solana.
As regulators across different jurisdictions strive to draft policies that not only foster technological innovation but also ensure consumer protection, the demand for demonstrative use cases has surged. An anonymous policymaker from the G20 group underscored the urgency for an assembly of blockchain use cases that reflect the technology’s capacity beyond the perceived insecurities related to cryptocurrencies.
In response to this, Polygon Labs’ database may steer the regulatory dialogue towards favorable regulation, fostering widespread adoption. It provides a counterpoint to the misconception of blockchain technology being limited to ‘crypto casinos’, a view that has led to legal action against leading exchanges like Binance and Coinbase by the U.S. Securities and Exchange Commission.
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While regulators have urged the industry to disentangle blockchain use cases from cryptocurrencies, Rettig asserts that true value doesn’t require disassociation. She references the UNICEF CryptoFund, which uses cryptocurrencies for philanthropic purposes, enabling public tracking of the funds.
‘The Value Prop’ segregates use cases into seven verticals: education, security & risk management, social impact & sustainability, finance, business & marketing, governance, and information technology. It will also feature a testimonials page with written and video messages from individuals sharing their positive experiences with blockchain technology.
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