POLYGON as a national currency.

[mich]

Well Polygon now getting steps closer if it wants to be a national currency. Google Cloud has joined Polygon POS network as a validator in 'a ongoing strategic collaboration'.

There is currently more then 100 validators for Ethereum layer 2 transactions.

https://www.cryptopolitan.com/google-cloud-is-now-a-validator-on-polygon/

[D ltr]

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 think even if polygon is friendly, it will never be able to become a country's national currency.  where there are too many processes to make it into currency, the first step is outreach to the lay public.  Those who are too lazy to discuss this need proper rules.  manage distribution and field implementation later

[Abiky]

Well Polygon now getting steps closer if it wants to be a national currency. Google Cloud has joined Polygon POS network as a validator in 'a ongoing strategic collaboration'.

There is currently more then 100 validators for Ethereum layer 2 transactions.

https://www.cryptopolitan.com/google-cloud-is-now-a-validator-on-polygon/

Polygon has been doing some progress, but it's far from becoming a "national currency" anytime soon. For instance, Polygon is an altcoin. This means Polygon is an alternative to the original Bitcoin blockchain. Investors and the general public feel more confident using BTC than an alternative which is less secure and decentralized.

As a matter of fact, Bitcoin has a deflationary model, as well as, a battle-tested network that's proven to be secure against external attacks. You don't see that coming with Polygon. It's this reason why mainstream countries are adopting BTC as legal tender, instead of an altcoin like Polygon (MATIC) or Ethereum. I'm fine with Polygon just the way it is, as long as it puts decentralization on top of everything else. Maybe it will go as far as becoming the top 5 ranked crypto coin in market cap? Just my opinion

[mich]

Well after 6 years working on the project the co-founder has stepped down from the company's day to day operations. He said he is still confident about Polygon but wants to put focus on other new businesses like AI.

Polygon is #13 on coinmarketcap. The coin is down 3.4% in the last 24 hours from this news. But it is still up 10% in the last 7 days.

https://beincrypto.com/polygon-co-founder-jaynti-kanani-step-down/

[cheezcarls]

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 honestly do not know why you are thinking of that. There’s also a previous thread I saw a long time ago whether Bitcoin should be a national currency or not. El Salvador made it happen so good for them.

In my own guts and instincts I certainly think Polygon as a national currency is impossible. Although I commend about their developments especially that I have been using them for a while in my DeFi transactions, they are not capable of being a “national currency”, given their own status like the market cap, worldwide adoption, etc.

As Bitcoin is already the OG and the most popular one, certain countries are already adopting it as legal tender. As for Polygon, I do not see it coming anytime in the future.

[JeffBrad12]

it will never be a national currency but it can be utilized from the perspective of technology to help country have revolutionary technology implemented in their system like NFT for land ownership and many more.
after all polygon is quite good blockchain so if countries utilizes the capability of smart contract blockchain they will have something revolutionary.
but after current CEO of polygon stepping down i don't think it will thrive anymore in regard of the value of polygon but I could be wrong.
but coming back to polygon being used as a national currency, it will never be a good idea, it fluctuates too much, the people will suffer from it, after all the citizens needs currency with stable value.

[EFS]

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 think even if polygon is friendly, it will never be able to become a country's national currency.  where there are too many processes to make it into currency, the first step is outreach to the lay public.  Those who are too lazy to discuss this need proper rules.  manage distribution and field implementation later

I don't want to say this is something that will never happen, but I don't think we'll see anything like this anytime soon. Polygon is really good, I use it sometimes too. However, for a state to integrate it into its own system is a big event in itself, and there are so many procedures for this to happen that I don't think a power that can do this will come in political position to make it happen. Integrating Polygon or any other altcoin system into any state remains only a dream. The central authority's request for this, convincing the opposition, educating its citizens and getting them to accept it are all very long and difficult processes. It's not impossible, but it's unlikely to happen.

[Abiky]

I honestly do not know why you are thinking of that. There’s also a previous thread I saw a long time ago whether Bitcoin should be a national currency or not. El Salvador made it happen so good for them.

In my own guts and instincts I certainly think Polygon as a national currency is impossible. Although I commend about their developments especially that I have been using them for a while in my DeFi transactions, they are not capable of being a “national currency”, given their own status like the market cap, worldwide adoption, etc.

As Bitcoin is already the OG and the most popular one, certain countries are already adopting it as legal tender. As for Polygon, I do not see it coming anytime in the future.

That will never happen because Polygon is an altcoin. This means Polygon is inferior to Bitcoin in terms of security/reliability/decentralization. Countries, and especially investors, want something safe and reliable. Bitcoin is the answer, because it's sound money that started it all. Without Bitcoin, none of the other coins would exist.

The only altcoin that might become a national currency (legal tender) after Bitcoin is Ethereum. That's because it's the second-largest cryptocurrency in market cap with a tried-and-tested blockchain network. Not to mention, ETH's ecosystem is the largest one available worldwide (after BTC). I'm fine with Polygon just the way it is as long as it doesn't turn into a "centralized shitcoin" in the long run. Who knows if it will live alongside BTC and ETH for generations? Just my thoughts

[EluguHcman]

That would be an ignorant of the government over her masses welfares.
But if it must be then it should be an opened authorization with a legal order but must sanction its users (masses) my the terms and rules that no one would be held accountable for any means of lost in the crypto affairs since the currencies are decentralized.