POLYGON as a national currency.

[poodle63]

It will never come true. The country has it all national currency. So many regulators are also seeing crypto as a thing that is always being related with the bad thing. It's impossible for crypto to be national currency. your opinion doesn't make sense.

You can imagine if you were regularly using crypto for your daily transaction and store your asset but your crypto goes to zero and what's gonna happen with your country? it will be dead.

[hugeblack]

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.

POLYGON is the layer 2 solution to Ethereum high fees problem that may fail to be an attractive currency if many variables occur, such as:

 - POLYGON fees go up
 - Ethereum failure or any problems happen with Ethereum will effect it because it is built on top of it.
 - High fees are no longer a problem for Ethereum.
 - New coin appears  with cheaper fees and more efficient.

With all that I mentioned, can this currency be a national currency that millions of people rely on and whose lives are affected by it? of course not.

[Sarah Azhari]

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.

Maybe the leader must teach the people to learn basic crypto first before implementing any idea. That technology is not easy to teach to new people who don't know how to use digital payments. In my country, many people can use only fiat money offline. when the government asks them to be cashless, they can't, which I think whatever platform such as Polygon, If the people don't know how to use basic payment online, I am pessimistic that it will happen success.

[wxa7115]

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.

Do you have a source that states that any country is thinking about doing something like this and adopting polygon? Because if you do not then there is not too much of a point on having this discussion, because the only coin that we know it has been adopted by two countries so far is bitcoin and only bitcoin.

As far as I know there is no country that is considering to adopt an altcoin as a legal tender, something that should not be too surprising as the volatility of those coins is too high and they are nowhere near as solid as bitcoin.

[Freddie Boyer]

In my opinion related this, One of the most important factors is ensuring the country's infrastructure is capable of supporting cryptocurrency use, including factors such as internet access and digital literacy. While POLYGON's user-friendly interface can certainly make it a good choice for countries with low levels of education, there are other factors to consider as well. For example, governments need to ensure that the infrastructure is in place to support the use of cryptocurrencies, including access to the internet and digital devices. They also need to consider how to ensure that cryptocurrencies are used safely and securely, and how to protect against fraud or other criminal activity.

[usekevin]

Many people opinion is bitcoin to became their own country currency,because they are the early adopters of the bitcoin.Most of the people wish the bitcoin to became the world currency like the USD.The world economy will not run without the US dollars,because the USD was the mode of payment to import anything from the United States.So we should have the dollars as our Reserve in their country.Nearly seventy percentage of most of the country population holding the bitcoin as their assets and investments.So as compared to the polygon,Bitcoin and Ethereum had huge opportunities.

[SirLancelot]

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 know many users will disagree and will say that Bitcoin fits better but I think it's not also wrong to choose other crypto other than Bitcoin. Bitcoin's supply is limited so if many countries will make it as their default currency, I think that is going to be a huge problem but I heard that there are now tool which can extend the Bitcoins supply. Other than supply, there is also high volatility rate.

This is where alternative cryptos can shine. In terms of difficulty level, I think Bitcoin is the most user-friendly among all cryptos. People can still use Matic the normal way like a BTC for sending and receiving money. There is no need to complicate things or go beyond than that, if they are lacking in knowledge.

[wxa7115]

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 know many users will disagree and will say that Bitcoin fits better but I think it's not also wrong to choose other crypto other than Bitcoin. Bitcoin's supply is limited so if many countries will make it as their default currency, I think that is going to be a huge problem but I heard that there are now tool which can extend the Bitcoins supply. Other than supply, there is also high volatility rate.

This is where alternative cryptos can shine. In terms of difficulty level, I think Bitcoin is the most user-friendly among all cryptos. People can still use Matic the normal way like a BTC for sending and receiving money. There is no need to complicate things or go beyond than that, if they are lacking in knowledge.

If governments around the world decide to adopt another cryptocurrency besides bitcoin then that is their decision, but I doubt this is a process which will happen soon, after all when the number of countries which have adopted bitcoin is so limited I doubt governments will adopt an altcoin as their first option, so the scenario being given by the OP is unlikely at the moment.

And about the tool you mention which supposedly can extend the supply of bitcoin I will say this is not possible, anyone can change the code and increase the number of coins that could exist, but no one is ever going to accept that change, which is the only way the limit on the amount of bitcoins could be changed as far as I know.

[FahriZah]

Polygon ( MATIC ) is really a good types of currency and very easy to use with low transaction fees wheb ETH gas fee so high and BTC transaction fee is little high and finally if compare with BNB / BSC it’s low but polygon MATIC fees are very low and very faster transaction possible within a minutes but don,t say polygon is national currency because still now no announced any countries government and any billionaire.

[justdimin]

Many people opinion is bitcoin to became their own country currency,because they are the early adopters of the bitcoin.Most of the people wish the bitcoin to became the world currency like the USD.The world economy will not run without the US dollars,because the USD was the mode of payment to import anything from the United States.So we should have the dollars as our Reserve in their country.Nearly seventy percentage of most of the country population holding the bitcoin as their assets and investments.So as compared to the polygon,Bitcoin and Ethereum had huge opportunities.

They can keep trusting whatever they want to but that doesn't mean that they will change it, I mean countries already have their own currencies and just because a few million people liked some coin doesn't mean they can change it. Bitcoin is the biggest coin ever, and even that had only 200 million ever invested, not actively, but some thing there will be other coins that will be accepted as currency for a nation?

Absolutely not, not even bitcoin will be like that, you need 200 million all in a single nation to make that happen, well depends on population of course, if its less then that would work with less. All in all there is no scenario where polygon is ever nation currency, or any crypto could be national currency, legal tender at best.

[JayTrain]

Adopting POLYGON as a means of payment or transactions in a country with low levels of education would require a comprehensive approach that includes education, accessibility, and infrastructure. First, the country's leaders could prioritize educating their citizens on the use of cryptocurrencies and blockchain technology, ensuring that the public understands the benefits and risks of using POLYGON. Additionally, they could work to improve accessibility by providing resources such as easy-to-use mobile applications and reliable internet access. Finally, the country could invest in developing the necessary infrastructure, such as payment gateways and exchanges, to support POLYGON transactions. By taking these steps, the country could create an environment that is conducive to the adoption and use of POLYGON as a means of payment and transactions

[RussianEnglishTranslation]

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.

Even polygon cannot be used as a national currency because to do so would require a TPS of 50k or more. Most countries will utilize their own private chains with 10 or less validators to ramp up the TPS. You could use a public blockchain like Polygon or Q Blockchain for digital ID or voting however as these things do not require transactions, only signing on metamask.

[TastyChillySauce00]

Even polygon cannot be used as a national currency because to do so would require a TPS of 50k or more. Most countries will utilize their own private chains with 10 or less validators to ramp up the TPS. You could use a public blockchain like Polygon or Q Blockchain for digital ID or voting however as these things do not require transactions, only signing on metamask.

it doesn't even make sense. VISA operated globally owned less than 50k TPS. How can you say that if polygon needs 50k TPs or even more for that? The main concern must be the volatility that owned by polygon caused by it's volatile asset.

TPS didn't matter a lot here. I think that you are making a false claim by taking 50k TPS s requirement to make it happen

Volatility and regulatory concern are main factors that prevent it.

[Apocollapse]

Bitcoin didn't even get accepted most of countries as a currency, now you're demanding Polygon should get accepted as a currency?

Polygon is a centralized token, it's never been a currency if you read the whitepaper. Only Bitcoin is proposed to become a world currency, some fake Bitcoin is also proposed same, but it's a scam coin. You just need to hope there's no vulnerability or hack on Polygon, that's it, because if it's happen, Polygon might suffer and would become a dead token.

[Fesatmas]

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.

We do not know as effective and how efficient is Polygon is used as a legal payment tool, even though he is fairly early, Altcoin Matic has a good reputation in the world of blockchain. It is quite risky to rely on polygon as an asset that is applied in a national scale, of course if indeed forced there must be a long experience first, so that the bad possibility cannot occur, and the most important thing is not to get disappointment that can kill the country or paralyze a country in its economy.
I also disagree if I ignore Bitcoin, but I am rather skeptical because I have enough coin matic.

[Magic-Money]

Polygon Network is a very fast network in the cryptocurrency industries, which charge's with a less fees, for any given transaction, that has Coin called Matic Coin, for the nation to adopt the Matic Coin as a means of payment, is a something of a gradual process by introducing to individual and company, which actually serve as a electric money, which everyone knows that cryptocurrency is a digital currency as well.

[riskarcher]

Legal payment using polygon?, every time someone says that it makes me think how can an asset whose value is fucluative be a legal payment is so funny. I can't imagine the retailer who received the payment will obviously be confused because their income has changed. Easy transactions don't always use crypto because that feature can be obtained from electronic payments or QRIS which is faster.

[hamba laeh]

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.

no country wants to make crypto currency its national currency because cryptocurrencies have high fluctuations that can be fatal for a country and can experience inflation in a country. In my opinion cryptocurrency can only be used and regulated in regulations only as a medium of exchange at the national currency exchange rate.

[BitcoinPanther]

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.

The country can create a bill and present it to the panel of regulators and get approved.  It is as easy as that.  If ever the bill had passed and acknowledged Polygon as legal tender, they should announced and implement the it.  Although it is as easy to say as that, the process would be very complicated.

But in my personal thought, Polygon will have a slim chance of getting approved as legal tender due to Bitcoin being more attractive choice. 

[Bolivar_Tony]

I don't see this happening, countries are autonomous and their is no way they will allow such to happen, what they can do is to do mint their own coin popular known as CBDC's and i think CBDC's are something to watch out for in the future because a lot of countries are piloting the test