Polygon CEO: Blockchain Hype Faded, Stablecoins Now Key to Practical Applications
The blockchain hype has faded, and the crypto industry is shifting focus to practical applications of the technology. In an interview with Traders Union, Polygon Labs CEO Marc Boiron explained that the market no longer needs more blockchains.
According to Boiron, there are already too many blockchains in existence, and what's needed now is better integration with traditional banking systems. Stablecoins have emerged as a useful result of this shift, enabling fast and low-cost cross-border transactions.
Boiron noted that payments are where blockchain's practical value is most visible, citing the example of stablecoins moving dollars across the internet at any hour. He also emphasized the importance of connecting onchain money with traditional fiat banking systems, a challenge that Polygon is addressing through its Open Money Stack infrastructure.