Polygon Co-Founder Sandeep Nailwal: Blockchains Improve Existing Problems

Sandeep Nailwal discusses blockchain's role in enhancing existing financial and asset systems, while Polygon announces India's first blockchain-based police complaint portal.

Published on 2022-10-16

Blockchains Enhance Existing Systems, Not Solve New Problems

Polygon co-founder Sandeep Nailwal emphasized that blockchains improve existing challenges in finance, money, and asset management rather than solving new problems. He criticized the notion of "imaginary use cases" for Web3.0, stating that blockchains refine how traditional issues are addressed, making them more efficient and secure.

Polygon's Real-World Applications

In a significant development, Uttar Pradesh Police launched India's first blockchain-based complaint portal on Polygon. This initiative, managed by Airchains.io, aims to enhance transparency, prevent data manipulation, and reduce corruption in law enforcement processes. FIRs on the blockchain will be easily raisable, verifiable, and immutable.

Technical Advancements and Adoption

Polygon has been gaining attention for its recent innovations, including the launch of zkEVM, the first open-source zk-Rollup with full EVM opcode compatibility. QuickSwap, a major DEX on Polygon, has started stress testing zkEVM on its testnet. Additionally, Shopping.io's integration with Polygon now allows MATIC holders to use cryptocurrency for purchases, further expanding its utility.

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