POLYGON as a national currency.

[TheSpiral]

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.

Matic is my favorite coin because fee is very low but there is network problem with matic which should be solved first to be presented for mean of payments to the country leader. It's very difficult for leader to accept any coin as a mean of payment because price is not stable and some whales holding large part of matic which can dump coin any time.

[bitkanu]

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.

Matic is my favorite coin because fee is very low but there is network problem with matic which should be solved first to be presented for mean of payments to the country leader. It's very difficult for leader to accept any coin as a mean of payment because price is not stable and some whales holding large part of matic which can dump coin any time.

those whales could have power that they don't have before that, if the coin being considered national currency.
why? because those whales are the ones that controls the market, i see the idea of using polygon for national currency as just wishful thinking honestly.

[Smitty Werben Man Jensen]

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.

Matic is my favorite coin because fee is very low but there is network problem with matic which should be solved first to be presented for mean of payments to the country leader. It's very difficult for leader to accept any coin as a mean of payment because price is not stable and some whales holding large part of matic which can dump coin any time.

Fees from the Matic network are indeed very cheap and have become a favorite of many people including me,
because Matic is a savior for NFT when the NFT market is hype, but if we talk about Matic being the currency of a country,
of course that is still far away, because Matic is an altcoin project where they build technology and does not have the goal of becoming a nation's currency.

[tvplus006]

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 government of any country directs all efforts to maintain its national currency, over which they have full control. Since the government cannot control the cryptocurrency, they are following the path of issuing Central Bank digital currency, or CBDC for short, which they will fully control.

[terencio]

I think a country leader who wants to adopt POLYGON as a means of payment or transactions in a country with low level of education should take some steps to ensure a smooth and successful transition like creating awareness and trust among the public about the advantages and challenges of using POLYGON and other cryptocurrencies, as well as how to use them responsibly and securely.

[FahriZah]

Nope i don,t thinking about than when polygon matic is national currency but we know as well Polygon Matic is very good & very strong project and long term purpose good choice for everyone who love crypto.

[kawetsriyanto]

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.

Is there a government of a country that has the intention to adopt Polygon as a legal currency in their country? When it is used for payment purposes or any transaction, it means Polygon is a legal currency there. What I heard about Polygon on this matter, is they try to have a partnership with Niger to help the country improve its economic level through blockchain technology. This doesn't mean making Polygon to use as a payment tool for any transaction in Niger. I don't know what Polygon team does to help Niger, but I'm not sure if it is to make Polygon as a payment tool there. They probably help Niger people to learn about blockchain technology only.

Source:
https://www.crypto-news-flash.com/polygon-partners-with-niger-to-build-billion-dollar-blockchain-ecosystem-of-the-future/

[israt1@]

A country will never accept it. The decision from their bank is final. If the bank wants to do this then it has to be associated with the currency. There can be no transaction fees as well.

[icalical]

Naah, it won't happened, even for Bitcoin to be a national currency is still nearly impossible, there too many at stake, and the stakeholder will mostly disagree. Politics is very complicated and making something that most people do not understand to be a national currency is not very popular politically.

[Ngemmeng]

talking about POLYGON (matic) at the current price drop the price of matic has fallen very significantly when compared to bitcoin and other large altcoins. and this significant price reduction makes matic also out of the top 10 CMC. is this happening because MATIC is a subset of security tokens and the current price drop is due to security issues (SEC)? I don't understand why this is happening, for sure this is the best time to buy a matic.

[Iyeman]

Nope i don,t thinking about than when polygon matic is national currency but we know as well Polygon Matic is very good & very strong project and long term purpose good choice for everyone who love crypto.

I guess you are joking about that. Since when altcoins are strong? SEC was cracking down polygon and it's enough to destroy this token. Relying in the altcoins as national currency is a very big mistake. It has proven that if polygon dumped so hard this time.
I think that your statement was not true to call it as strong token.

[WalkerIVIV]

Naah, it won't happened, even for Bitcoin to be a national currency is still nearly impossible, there too many at stake, and the stakeholder will mostly disagree. Politics is very complicated and making something that most people do not understand to be a national currency is not very popular politically.

true, there are many needs to be considered in running a country, it's not like running a business where everything is profit minded but also for the wellbeing of the citizens in general.

[onecall123]

Naah, it won't happened, even for Bitcoin to be a national currency is still nearly impossible, there too many at stake, and the stakeholder will mostly disagree. Politics is very complicated and making something that most people do not understand to be a national currency is not very popular politically.

I've treated Polygon is one of the few projects out there that actually has a working product. While it's true that Polygon has some big partnerships under its belt. But, Polygon has recently been placed on a blacklist in America, so it may be wise to avoid investing in this token at the moment. I have a lot matic, but yesterday trading it for ETH instead.

[Dave1]

Nope i don,t thinking about than when polygon matic is national currency but we know as well Polygon Matic is very good & very strong project and long term purpose good choice for everyone who love crypto.

I guess you are joking about that. Since when altcoins are strong? SEC was cracking down polygon and it's enough to destroy this token. Relying in the altcoins as national currency is a very big mistake. It has proven that if polygon dumped so hard this time.
I think that your statement was not true to call it as strong token.

Every altcoin can be treated as securities, if that is what the direction sEC is going after. And if that happens then obviously, no altcoin can be treated as national currency.

Second, altcoin such as Polygon is very volatile, so I doubt that any government in the world would take it as currency.

Third, the support of the community. Yeah, there could be consensus, but I doubt that it could reach as high as what let's say Ethereum has. If ever there is a good altcoin to be a candidate to become a national currency, perhaps it could be Ethereum.

[Smitty Werben Man Jensen]

Naah, it won't happened, even for Bitcoin to be a national currency is still nearly impossible, there too many at stake, and the stakeholder will mostly disagree. Politics is very complicated and making something that most people do not understand to be a national currency is not very popular politically.

I've treated Polygon is one of the few projects out there that actually has a working product. While it's true that Polygon has some big partnerships under its belt. But, Polygon has recently been placed on a blacklist in America, so it may be wise to avoid investing in this token at the moment. I have a lot matic, but yesterday trading it for ETH instead.

I don't know if your actions were correct because you sold Matic and switched to Ethereum,
even though Matic is still making good progress even though they are on the American blacklist,
but look at there is no bad news about it, so Matic is still very worth it for investment.

[onecall123]

Naah, it won't happened, even for Bitcoin to be a national currency is still nearly impossible, there too many at stake, and the stakeholder will mostly disagree. Politics is very complicated and making something that most people do not understand to be a national currency is not very popular politically.

I've treated Polygon is one of the few projects out there that actually has a working product. While it's true that Polygon has some big partnerships under its belt. But, Polygon has recently been placed on a blacklist in America, so it may be wise to avoid investing in this token at the moment. I have a lot matic, but yesterday trading it for ETH instead.

I don't know if your actions were correct because you sold Matic and switched to Ethereum,
even though Matic is still making good progress even though they are on the American blacklist,
but look at there is no bad news about it, so Matic is still very worth it for investment.

If you believe that this could be an opportune moment to buy the dip, then you may consider proceeding. Since Matic blacklisted in America, several platforms have been removing Matic from their listings, leading to a situation where users have to sell or export their holdings. This situation is commonly referred to as forced selling.

[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.

Before taking any steps towards adopting Polygon, a country leader should carefully assess the potential benefits and drawbacks of implementing this payment system. ~

In this case also worth noting that countries that have made cryptocurrencies such as Polygon legal tender have faced significant challenges in increasing their usage and utility. ~

They did not have to thoroughly asses the feasibility of cryptocurrency implementation. Most governments can simply by acknowledging that most cryptocurrencies are not centrally controlled should make them refrain to adopt them as legal tender. El Salvador is an exception, but the important thing is we can learn that they struggle to make its population use bitcoins. That is what my main point.

Another essential thing that is completely mistaken is Polygon adoption as legal tender. As of now, there is no country has been implemented the coin as their legal tender. So you better check your sources.

[OgNasty]

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.

Matic is my favorite coin because fee is very low but there is network problem with matic which should be solved first to be presented for mean of payments to the country leader. It's very difficult for leader to accept any coin as a mean of payment because price is not stable and some whales holding large part of matic which can dump coin any time.

I agree with your thoughts here.  MATIC is an awesome coin that is able to assist in a lot of use cases where Ethereum is too expensive.  My concern is also one you mentioned, that there are many large MATIC whales sitting on enormous profits that could dump at any time.  I don't think a country wants to make individuals insanely wealthy only to get dumped on in the end, and this is sort of why Bitcoin is the most attractive coin for large entities like countries.  MATIC also is growing extremely quickly and experiencing growing pains at times, so I don't think it's ready for widespread use yet.  I do see it currently being the most likely metaverse currency though.

[justdimin]

depending on some random altcoin for a country's economy is definitely a mistake. even the fact that polygon itself is highly volatile is already such a red flag for it to be used for something that directly affect the country's well being.
it's just really bad decision making if some country ever make this altcoin namely polygon as their means of payment and something like that. at best it's only good for money transfer that competes with the like of bank transfers and many more which usually impose quite high fee. but for it to be used as a national currency, seemed silly idea to me.
this thing just doesn't work for that.

Cryptocurrencies as national currencies? That calls for measured deliberation! Doubts about unstable cryptos like Polygon becoming a national standard are reasonable. In an economic landscape, stability reigns - isnt the volatility of cryptos risky? Still, should we judge all crypto projects by LUNA's failure? Each blockchain endeavor is unique, and while one may stumble, another may thrive. Considering cryptocurrencies for global transactions due to their efficiency and affordability is tempting. But as a national standard? Let's proceed cautiously! Can we bet our economy on the erratic crypto market?

I think there is a difference between bitcoin and polygon though. I get that you may want to see fiat change, but I rather see it change to bitcoin not polygon, because Luna may have failed single handedly and that doesn't mean anything for Polygon, but neither was as good as Bitcoin, that's just way better than anything else we have seen before.

This is why it's quite important to remember that it's not going to be a big deal, it's just the fact that we are going to see them be who they are, and that's enough for us. Bitcoin is big enough and that's why we can turn a nations currency completely to bitcoin if we ever wanted to, and even though there would be some tech issues moving that way that requires time, it would make a lot more sense than Polygon at least.

[Abiky]

The government of any country directs all efforts to maintain its national currency, over which they have full control. Since the government cannot control the cryptocurrency, they are following the path of issuing Central Bank digital currency, or CBDC for short, which they will fully control.

Exactly. I see no reason why would a government abandon its national currency in favor of something that's outside of their control. Not even El Salvador has done something like this (even though it adopted BTC as legal tender). The Central-American country still has the USD as its secondary currency of choice. Without centralization, I fail to see how mainstream governments will be able to move the economy in their favor.

Whenever it's Polygon (MATIC), Ethereum (ETH), or any other cryptocurrency, all them will remain as an alternative to Fiat currencies forever. I'm fine with that as long as decentralization and censorship-resistance is preserved. Maybe Polygon will live alongside CBDCs for generations? Just my opinion