In a recent interview with CNBC, Rebecca Rettig, the Chief Legal Officer at Polygon Labs, revealed exciting developments for Polygon 2.0 that are bound to shake up the blockchain space. Polygon 2.0 aims to integrate various chains, including ZK-EVM and other forward-thinking technologies that Polygon Labs developed to create a unified platform for the entire blockchain industry. This advancement is expected to pave the way for a blockchain-based internet and establish a value layer for the digital world.
Rettig talked about Polygon’s “value prop”, which was recently launched and has attracted interest from various industries, including policymakers, governments, and the general public. Value Prop is an open-source database showcasing blockchain use cases and innovations worldwide. Rettig said many had told her there was an “aha moment” when they realised that blockchain-based applications are already happening daily. Major brands like Starbucks, Disney, Sports Illustrated, and Ticketmaster are already integrating blockchain-based internet applications into their operations.
The value prop is an interactive resource with over 430 featured applications across various sectors, such as finance, healthcare, AI, and social media. Users can explore different use cases, including surprising applications like a blockchain-based solution for the California DMV. Notably, the platform has recently introduced “Impact Locale,” which showcases how certain blockchain applications are making positive social impacts worldwide.
Polygon Labs is also working on exciting updates for the value prop, incorporating video testimonials from developers explaining why blockchain technology is essential for their projects. In addition, people from all backgrounds will describe how blockchain-based apps have contributed to their lives. This effort intends to show that blockchain can be a force for good by highlighting real-world application cases.
Ms Rettig touched on regulatory questions and expressed her satisfaction with the recent Ripple court decision, which distinguished between securities and transactions in securities. Judge Torres had determined that XRP, as a software token, is not a security. The ruling highlights the importance of comprehensive legislation to manage the crypto asset market in the United States. Rettig said she believes that Congress must work on a broad-scale regulatory framework incorporating agencies such as the SEC and CFTC in ensuring clarity and consistency in the young but growing crypto market.
Rettig said: “And I do think a comprehensive regime can be put together for the crypto asset markets in the United States that will bring the US in line with major other jurisdictions in the world such as the EU and Japan and the UK.”
As Polygon 2.0 continues its development and the value prop gains traction as a valuable educational resource, Polygon Labs seems to be in a good position to drive blockchain technology forward and empower the world with innovative solutions already reshaping various industries.