POLYGON as a national currency.

[Sidra101]

What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.

[jossiel]

What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education.

Either they don't care and let their citizens transact with it or declare it that it's good to use it as a payment transaction.

There's no need for any complicated declaration by a country if they want to use such altcoins for payment. But if it's critical for them then they may do just as what El Salvador did.

And that's about making a law about bitcoin as a legal tender.

As it's known to be one of the best user friendly platform for easy transactions.

Currently, fees are too low for it but what if it becomes congested just as the other chains that have said the same thing for being user friendly and cheap in fees.

[ryzaadit]

Nope, I don't think is happening.

One, they still need to support the banker. If they want do a blockchain, what they do are partnership with a bank for these scheme. They need to maintain the value of their currency, that's why most country prohibited other payment currency.

Like my country, you cannot use crypto as payment but can use them as investment.

[vv181]

Any governments are reluctant and unlikely to implement a payment system that is beyond their own control. Moreover, there is also no urgency or major benefit specifically for the country that has a subpar education system for the implementation and integration of such a system.

Saying Polygon has the best user-friendliness does not get to the point it is worth implementing, besides, a similar coin also have similar characteristic compared with Polygon itself. Worth noting to take an example from the country that has made bitcoins legal tenders, they do have massive challenges to increase its usage and utility.

[Xal0lex]

Yes, Matic is very good for transactions and very good for NFT, but I don't think it's the right asset to implement at the national level as a means of payment just because it has low fees. Matic has too short history on the market, it's an altcoin and it's not reliable enough. It is unlikely that any country will choose any altcoin, ignoring bitcoin.

[Yogee]

1. Have a study group to conduct a research on the viability of adopting a new payment system
2. Create a small group to test whatever steps they created in the first step
3. Evaluate the result and make necessary adjustments
4. Present the findings to a larger group of stakeholders and have long discussions
5. Create rules and regulations for the implementation

That's just from the top of my head but there are probably more steps needed in between.

[Victorik]

Matic is cheap for doing transactions, although experiences network issues as do other coins. But adopting it as a national currency might really not be practical. There are a lot of legislation that needs to be done and I am sure not everyone in that country will support the idea, especially the law makers.
Best that can be done in my opinion is to accept it as a means of payment.

[avikz]

Adopting crypto is easier said than done. Countries usually do not like to depend on something that they can't control. That's the most important reason why countries are not adopting cryptocurrency at all. El-Salvador is an exception to be honest.

So no matter how user friendly a cryptocurrency is, it doesn't have any impact on its adoption. Common people may adopt a simpler crypto but that usually isn't the case for countries.

[X-ray]

What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education.

You are thinking too far like you can easily make it happen while you shall aware of the reality if you have no power to do that, right? I don't even wanna give answer about what steps that can be taken by  leader of counter. I just wanna try to tell you if first of all, you shall go to the narendra modi's office and then told him about replacing rupee with polygon. Since, polygon was also one of indian based project. Told indian prime minister to at least try to use polygon once.
That thing will never happen. The regulators saw altcoins were just security asset.

As it's known to be one of the best user friendly platform for easy transactions.

So what's next? VISA, Mastercard even paypall was also offering the same thing like what polygon did but the only thing makes it difference if polygon was a blockchain based project. The price of polygon was also coming from the speculation unlike rupee which is coming from the economic condition of the country itself. Matic is not suitable being used as national currency as it's not a stable currency. People can lose their money anytime, even when they do nothing.

[bittraffic]

We in our country didn't have any laws created for us to accept and use BTC, I think it also applies to Matic if this is really what the people wants to do.

So its not for the government to decide which token but they will likely want stablecoin than using a centralised crypto.  Matic seem not really fit for it. It only make the country financially vulnerable.

[timoshani]

We in our country didn't have any laws created for us to accept and use BTC, I think it also applies to Matic if this is really what the people wants to do.

So its not for the government to decide which token but they will likely want stablecoin than using a centralised crypto.  Matic seem not really fit for it. It only make the country financially vulnerable.

I do not believe that the landfill can become a national currency. There are no examples yet where the crypt has been recognized as the main unit of account for a particular country. It is all the more difficult to become a financial guaranteed unit without being justified.

[o48o]

What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.

Why an earth would anyone in charge want to adopt that? And wouldn't the adoption happen because people are already using it. So if people choose to use Polygon, it has more changes to be accepted by companies. Country leaders are the last ones in the line to adopt something.

And right now the payment and custodial system is too complicated and has too many risks that anyone in charge would want to push to people. Permissionless and immutable transactions are not something countries would benefit from if they want to stay in control.

[Johnyz]

What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.

Fiat will stay and crypto will never be a national currency, I’m sure many politicians will also against this one because its too transparent and they don’t want it. Polygon is a good coin but I don’t think a country will never make a move like this, there’s no need for this though. If you believe MATIC will be a good crypto, then better to hold more and know when to take profit, this platform will grow more for sure.

[goaldigger]

What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.

Creating a law declaring this as their national currency will not be easy, though I expect many countries to make Bitcoin as a legal tender as some countries are already have this law. This could be the future adoption. I just don’t see altcoins to be on this spot but who knows, we might see a good future for crypto adoption as well. Anyway, didn’t see any big updates from MATIC though, there’s a big competition in this market and if they stop updating, then it will be hard for them to stay on the top position, they should remain active.

[wheelz1200]

What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.

I mean any country can make any currency tueir local currency.  Why wouldn't they start with bitcoin?  Since it sits on its own blockchain and more of a proven currency why wouldn't they look there first?  I'm pro polygon but that is a step way too far away right now.

[WalkerIVIV]

sounds like ridiculous idea, after all i still doubtful in regard of the scalability of these platform, imagine it's being used by people in a country in which definitely gonna be massive and eventually the gas fee increase to the point like ethereum you get the idea how messed up things will be.

[AmoreJaz]

sounds like ridiculous idea, after all i still doubtful in regard of the scalability of these platform, imagine it's being used by people in a country in which definitely gonna be massive and eventually the gas fee increase to the point like ethereum you get the idea how messed up things will be.

and besides, do you really think a government will permit the existence of a cryptocurrency to be their national currency? what will happen to their own currency then?
and that's right, they need to look at the future scenario if in case they will deploy crypto in their financial system. having high demand means fees may increase just like the eth network. there will be a mess as the govt will receive a lot of complaints here and there. that would be a fiasco.

[Teraboy]

What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.

there's no steps required I guess just declare legally that the polygon has become country's way of dealing with transaction aside fiat but i think as many have said it's gonna be bad idea, since a country need to take control of its own economy.

[sheenshane]

What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.

It could be an alternative way of payment and that's possible.

The adoption of MATIC by a government or a country leader could offer several benefits, such as faster and cheaper transactions, increased transparency, and improved security.  MATIC's scalability and interoperability features could make it an attractive option for governments that looking to improve their existing payment and transaction systems which top cryptocurrencies don't have.

However, speaking of low-level education, this is another story to discuss than the adoption.
The adoption of Polygon as a means of payment or transactions in a country with a low level of education would surely require such education and regulation for sure.

[lobo13hf]

It's gonna be good if a country starts spending money from taxes through these blockchain so that it could be recorded in the ledger and also transparent but as many have said using it for national currency seems unwise decision after all the ecosystem of polygon i think is still pretty much premature.