"With Polygon 2.0, crypto can grow like the internet"

In an exclusive interview with BW Businessworld, Polygon Co-founder Sandeep Nailwal discusses Web3’s impact on the internet landscape, opportunities for businesses, and the evolution of the crypto space during the “crypto winter”

- Rohit Chintapali

“For the foreseeable future, DeFi is the most potent use-case of blockchain technology. That’s partly because using blockchain remains relatively expensive, user activity naturally migrates to the highest value activity”

How has the rise of Web3 technologies affected the traditional internet landscape? What opportunities does it present for businesses and individuals? 

We are in a moment where many people seem to agree that the internet is getting worse, but outside of crypto there aren’t many proposed solutions for how to do things differently.

So, the most exciting aspects of Web3 in my mind have to do with value: what we value, how we transfer value, who owns the value we create, and how we can make an internet that foregrounds users and developers over centralised groups. When we talk about the value layer, it does not mean only money. Transferring and owning value can mean anything that a user values: their data, a digital file, a token representing membership to a group and more.

We don’t hear of Web3 as much these days since the values of cryptocurrencies took a nosedive and other issues plaguing the crypto world came to light. How has the space evolved in the meantime? The good, the bad…