“The Value Prop” is the name of the database, which currently contains 39 use cases and over 300 applications, and is anticipated to expand in the future; Polygon Labs developed the project with the intention of creating a “Wikipedia for use cases.”
Rebecca Rettig, the Chief Policy Officer at Polygon Labs, stated in an interview with CoinDesk prior to the launch that “This is just the beginning,” and emphasized that the website will not remain static. Rettig further explained that the database will continue to expand as users request more Solana applications to be included on the website.
Regulators have been increasingly vocal about their demand for use cases, as they struggle to develop legislation that not only fosters innovation but also safeguards the public.
A policymaker from the Group of 20 (G20) informed CoinDesk that it is essential to have a collection of blockchain use cases that demonstrate the technology’s capabilities without the drawbacks of cryptocurrency, in order to promote favorable regulations that encourage widespread adoption. Singapore’s central bank initiated a pilot program earlier this year to investigate the potential use cases of digital assets in decentralized finance (DeFi) and tokenization.
According to Rettig, this could alter the discussion from regulators’ inability to perceive beyond the “crypto casinos,” particularly as the U.S. Securities and Exchange Commission has filed lawsuits against both Binance and oinbase">Coinbase, the world’s largest cryptocurrency exchanges.
“It will be highly beneficial for policymakers, but there is also a general notion of the utility of blockchain and the issues it addresses, and this database is expected to provide a comprehensive response to such queries,” stated the speaker, emphasizing the usefulness of the database.
Regulators have urged the industry to dissociate blockchain and its use cases from cryptocurrency. However, Rettig argued that “when there is an inherent value, there is no need for separation.” Rettig cited the UNICEF CryptoFund as an example, which employs cryptocurrency to distribute donations to the underprivileged, while also providing public tracking of the funds.
The use cases within the database are classified into seven distinct categories, including education, security, risk management, social impact and sustainability, finance, business and marketing, governance, and information technology.
The platform will also feature a testimonials section, which will exhibit written and video messages from individuals regarding the positive impact of blockchain on their lives.
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