As cryptocurrencies and blockchain expertise acquire extra consideration from regulators, many are asking what are among the use circumstances for the trade outdoors of creating wealth, and that is why it exists.
To assist observe these use circumstances, Polygon Labs final month launched The Worth Prop, a database of varied web3 implementations. The corporate at present has 430 initiatives throughout 42 use circumstances and 9 verticals. Polygon Labs is sharing completely with seethereality+.
Polygon Labs has taken the initiative to supply this kind of data to regulatory authorities. The corporate wrote in a weblog put up in June that it created a database to indicate the alternative ways web3 can be utilized to reply a few of these questions.
Usually, when folks consider cryptocurrency, they instantly affiliate it with get-rich-quick eventualities. Consider the pumping (and later dumping) of meme cash and the hype round NFTs.
in 2023 the financial report checked out blockchain expertise and even checked out three use circumstances: Walmart Canada and the usage of blockchain expertise with the availability chain; decentralized wi-fi community Helium; and NFTs and digital actual property. In keeping with the report, they “have thus far demonstrated solely restricted, if any, financial profit.” However she additionally acknowledged that proponents nonetheless say the expertise could possibly be used productively sooner or later as firms and governments proceed to experiment with it.
That is one thing DC regulators have highlighted up to now when speaking about cryptocurrency or blockchain expertise at hearings. A polygon database might assist them observe non-financial makes use of extra simply.
