Polygon (formerly known as Matic Network) is a Layer 2 scaling solution built on Ethereum, which aims to address Ethereum’s scalability issues. Since its launch, Polygon has formed several notable partnerships across various sectors of the blockchain ecosystem. We’ll will take a closer look at Polygon’s six biggest partnerships to date.
In May 2021, Mercedes-Benz announced that it had entered into a partnership with Polygon to explore the potential of blockchain technology in the automotive industry. The partnership aims to explore the use of blockchain technology in the supply chain, including transparency, traceability, and sustainability. Mercedes-Benz sees the potential of blockchain technology in the supply chain to ensure quality control and to track and trace parts from their origins to their destinations.
Polygon partnered with Disney to explore the potential of blockchain technology in the entertainment industry. Disney’s blockchain team will work with Polygon to develop a scalable, secure, and decentralised network that can support a wide range of use cases in the entertainment industry. Disney sees the potential of blockchain technology in the entertainment industry to enhance fan engagement, improve content distribution, and protect intellectual property rights.
In May 2021, Polygon announced that it had partnered with Nike to explore the potential of blockchain technology in the fashion industry. The partnership aims to explore the use of blockchain technology in the supply chain, including transparency, traceability, and sustainability. Nike is committed to sustainable and responsible manufacturing, and blockchain technology can help ensure the transparency of the supply chain and promote sustainability.
Polygon announced that it had formed a partnership with Meta (formerly Facebook) to explore the potential of blockchain technology in the metaverse. The partnership aims to develop a scalable, secure, and decentralised network that can support a wide range of use cases in the metaverse. The metaverse is a virtual world that is rapidly growing, and blockchain technology can provide a secure and decentralised infrastructure to support it.
In June 2021, Polygon announced that it had partnered with Starbucks to explore the potential of blockchain technology in the retail industry. The partnership aims to explore the use of blockchain technology in the supply chain, including transparency, traceability, and sustainability. Starbucks is committed to sustainability, and blockchain technology can help ensure the transparency of the supply chain and promote sustainability.
Polygon announced its partnership with Reddit in July 2021 to scale Ethereum-based communities. The partnership allows users to interact with Ethereum-based communities more quickly and cheaply than before. It aims to make the experience of using Ethereum-based communities more user-friendly. Reddit is one of the largest social media platforms on the internet, and its partnership with Polygon showcases the potential of Polygon’s Layer 2 scaling solution.
Why is Polygon being so widely adopted?
Polygon is being widely adopted by mainstream companies compared to other blockchains due to several reasons:
- Scalability: Polygon is built on top of Ethereum, which is one of the most popular blockchain platforms. Ethereum’s scalability issues have been a significant challenge for many companies looking to adopt blockchain technology. Polygon’s Layer 2 scaling solution addresses these scalability issues, making it more attractive to mainstream companies.
- Cost-effectiveness: The high transaction fees associated with Ethereum have been a significant barrier to adoption for many companies. Polygon offers lower transaction fees compared to Ethereum, making it a more cost-effective solution for companies to adopt blockchain technology.
- Interoperability: Polygon’s interoperability feature allows it to work with other blockchains and applications. This feature makes it easier for companies to integrate blockchain technology into their existing infrastructure, reducing the risk of disruption to their operations.
- Security: Polygon offers a high level of security for transactions on its network. It uses multiple layers of security protocols to protect against potential threats, ensuring the safety and integrity of transactions. This feature provides companies with the confidence they need to adopt blockchain technology and integrate it into their operations.
- Community: Polygon has a strong and supportive community of developers and users. Its ecosystem provides tools and resources that make it easier for developers to build and deploy applications on the network. This community has played a crucial role in the adoption of Polygon, as it has helped to create awareness of the platform and its potential.
How to buy Polygon (MATIC) in Ausralia
Polygon has its own cryptocurrency known as MATIC, which can be purchased through several methods. For those residing in Australia seeking to buy MATIC, you can follow these simple steps:
- Choose a reputable crypto exchange
- Create an account and verify identity
- Deposit funds into the account
- Buy MATIC
- Withdraw to your wallet (optional)
Visit our more detailed guide on how to buy Polygon (MATIC) in Australia.
Polygon’s partnerships with some of the world’s leading companies showcase the potential of its Layer 2 Ethereum scaling solution. By exploring the use of blockchain technology in various industries, Polygon aims to bring scalability, transparency, traceability, and sustainability to these industries. These partnerships demonstrate the growing interest in blockchain technology and its potential to revolutionise various sectors of the economy. As Polygon continues to grow and develop, it will be interesting to see what new partnerships it forms and what impact it has on the blockchain ecosystem.