Topic: POLYGON as a national currency. - page 2. (Read 750 times)
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.
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.
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/
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 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.
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.
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.
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. 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.
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. 
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 highly potential coin and yeah it’s very fast transaction with low transaction fees, it’s my favourite coin and i think it’s team is very hard working to implement new thing in this project. Whatever i don’t think it’s not enough trustworthy to adopt as a national currency, you know where only one Country (El Salvador) adopted BTC. So, i don’t see any possibility to even in the future. 
You can imagine if polygon being adopted as national currency and another news from SEC to crach down it will come. Polygon will be going down 50% and you can imagine how many poor guys will be there.
It's so stupid to take altcoin to replace the national currency which is always stable caused by it's backed by the economic from the country itself.
It's so stupid to take altcoin to replace the national currency which is always stable caused by it's backed by the economic from the country itself.
The risks of loss are simply too high to bear. Bitcoin has less risks, even though volatility is still there. Why would a nation-state adopt something as unstable and unpredictable as an altcoin? Polygon is an altcoin, even though it's much more reliable than other centralized "shitcoins". I wouldn't count on it becoming a national currency now or in the future. It's fine just the way it is.
What will take over the world is not Bitcoin or any other cryptocurrency, but rather government-issued digital currencies (CBDCs). Everything else will remain as an alternative for those looking into decentralization, censorship-resistance, or privacy/anonymity/freedom. No one can predict the future, but I'm certain Polygon will survive because of its solid foundation built upon it. As long as developers keep innovating and bringing use cases to the platform, nothing should be able to stand in its way. Just my opinion
It was nice to see MATIC’s price bounce after the recent massacre. It’s still down quite a bit but the freefall from altcoins being attacked by the Untied States seems to have left the worst behind. I have a lot of expectation that MATIC will do very well as the metaverse becomes more developed, but it’s been a bumpy ride this cycle so far.
In a democratic country the president or first minister can send a project to the legislative house regards the adoption of a determined cryptocurrency as legal tender. Then the congressmen will vote if they agree with the proposal or will vote changes inside the proposal to best fulfill their interests before it is approved. I can't generalize, but you can expect it to be an immediately discarded project or that it will take a long time until they reach a conclusion in most countries (especially regards an altcoin like POLYGON).
Moreover, few politicians are crypto enthusiasts and most of them have traditional economists backing their public stances. They are like little gears of a complex engine we call "system" or "matrix".
Moreover, few politicians are crypto enthusiasts and most of them have traditional economists backing their public stances. They are like little gears of a complex engine we call "system" or "matrix".
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.
crypto currency is still not adopted by the State for payment, because the state has its laws and already has their own currency,
moreover polygon is just an altcoin and could be a scam, I don't know!. Currently several countries also have plans to create their own blockchain,
such as China with digital yuan, Indonesia with digital rupiah, and Elsalvador with their own bitcoin.
Woh, I never thought this discussion would ever come up with any Altcoins. I am not sure why you chose to discuss this over polygon and not let us say XRP or may be Bitcoin for that matter. First thing, it has got no meaning because it is weird how we could expect an alt to become world currency which is also not as stable as let us say dollar for that matter. There is no exchange value for the polygon when it comes to adoption. There are not enough users for the alts and neither there will be world wide adoption due to other infra based restrictions. We can’t even say this about bitcoin which is obviously the best currency in terms of crypto.
Volatile is a problem in cryptocurrency. I think FIAT money will still be the first choice. Making POLYGON the national currency is a long matter that must be thought through properly. I see that the world has not yet found out how to legislate on cryptocurrencies to avoid disasters such as the collapse of the LUNA project.
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.
You can imagine if polygon being adopted as national currency and another news from SEC to crach down it will come. Polygon will be going down 50% and you can imagine how many poor guys will be there.
It's so stupid to take altcoin to replace the national currency which is always stable caused by it's backed by the economic from the country itself.
It's so stupid to take altcoin to replace the national currency which is always stable caused by it's backed by the economic from the country itself.
Volatile is a problem in cryptocurrency. I think FIAT money will still be the first choice. Making POLYGON the national currency is a long matter that must be thought through properly. I see that the world has not yet found out how to legislate on cryptocurrencies to avoid disasters such as the collapse of the LUNA project.
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.
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.
Thanks to Best_Change who launched his anniversary nft, and requested for an Etheruem or polygon address. This could be Mt start of being interested in altcoins.
Well there is some 'bullish' news for Matic token and Polygon network. Kraken exchange is going to launch its NFT marketplace on the Polygon network
I guess this is the reason this coin is having good increase despite other coin just desperately having massive corrections following the lawsuits.but i wonder if NFT market gonna be that signficant for long, but it can't be denied though that polygon recently has made quite the innovations and development added with the fact that kraken trying to deploy their nft marketplace in there.
Jump to: