Blockchains Do Not Solve Any New Problems

Sandeep Nailwal debunked one of the most toxic narratives of adamant blockchain sceptics: the Web3 revolution is not designed to solve “new” problems only.

No “imaginary” use cases for blockchains: Sandeep Nailwal

Today, Oct. 15, 2022, the Polygon (MATIC) founder took to Twitter to share his views on the way blockchain systems should address financial, social and other problems.

Criticism of blockchains : “Imaginary use cases”

Ans: Blockchains are (mostly) NOT solving any new problems, they improve how we have solved those problems previously. Money, finance, assets et al are not new problems being solved, they are just being solved better

— Sandeep | Polygon 💜🔝3️⃣ (@sandeepnailwal) October 15, 2022

According to him, the use cases chosen by blockchain teams should not be criticized as “imaginary” ones by speakers in the industry.

Blockchains — at least, the vast majority of them — are focused on improving the ways existing technical mechanisms address “old” challenges inside and outside fintech.

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That is why “inventing” new use cases for blockchain-based tools makes no sense in terms of global blockchain adoption and solving major world problems.

Earlier this week, it was announced that Polygon (MATIC) is now used as a technical platform for police reports in the Firozabad district (Uttar Pradesh, India)

Polygon (MATIC) zkEVM started dApp onboarding

Using Polygon (MATIC) for accepting and processing police complaints will make the law enforcement mechanisms more transparent and immutable.

In August 2022, Polygon (MATIC) made headlines with its latest development, zkEVM. As reported by U.Today, this platform unlocks previously unseen opportunities for ZKP-based protocols.

Starting from Oct. 14, 2022, major Polygon-based decentralized cryptocurrency exchange (DEX) QuickSwap is stress testing Polygon’s zkEVM on public testnet.