Polygon Labs, a provider of scaling solutions for the Ethereum blockchain, announced on June 15 that it has opened a database called “The Value Prop,” which collects excellent blockchain use cases from around the world.
Introducing beyond the chain
The database named “The Value Prop” introduces 39 use cases and over 300 applications, and the number is expected to increase in the future. Polygon Labs hopes to turn this database into a “use case wikipedia”.
The use cases are categorized into seven areas: Education, Security & Risk Management, Social Impact & Sustainability, Finance, Business & Marketing, Governance, and Information Technology.
In addition, there will be a page with user testimonials and videos about how blockchain has positively impacted their lives.
“This is just the beginning. It can’t be a boring website,” Rebecca Rettig, the company’s chief policy officer (CPO), told CoinDesk in an interview before the launch.
“The database will grow with requests like ‘Please list more applications on the Solana blockchain.'”
Regulators looking for use cases
Regulators are increasingly calling for use cases as countries grapple with the challenge of enacting laws that not only support innovation but also protect users.
“In order to move the debate in favor of positive regulation intended for mass adoption, we need to eliminate the vulnerabilities of crypto assets and create blockchain’s many use cases that reflect the power of the technology. We need to confirm,” a G20 policymaker told CoinDesk.
Earlier this year, the Monetary Authority of Singapore (MAS) launched a pilot program to explore use cases for digital assets in the areas of tokenization and decentralized finance (DeFi).
Rettig said the move comes amid the US Securities and Exchange Commission (SEC) lawsuit against major cryptocurrency exchanges Binance and Coinbase. He said that it might be possible to change the situation that can only be regarded as a “casino”.
Rettig said the database “would be very useful for policy makers,” but added, “There are also general questions about what blockchain is good for and what problems it solves. That’s the general answer.” I hope it will be,” he said.
Regulators have asked the industry to decouple blockchain and its use cases from crypto assets, but Retig said, “If there is fundamental value, there is no need to do so,” citing the UNICEF CryptoFund as an example. I gave it to UNICEF CryptoFund accepts donations in crypto assets and is used to support innovations that have a positive impact on children and young people, and the flow of funds is visualized by blockchain.
｜Translation: coindesk JAPAN
｜Editing: Rinan Hayashi
｜Original: Polygon Labs Rolls Out Open Database for Blockchain Use Cases