Type: Currency Token
Function: A digital asset which represents a unit of real-world value. POA can be exchanged for other tokens, store monetary value on the blockchain, and used to purchase goods or services.
Use Cases: POA and the bridged POA20 are available to purchase on various exchanges and can be sent between users as a medium of exchange (forum users have been known to send pizzas for POA). In addition to standard exchanges, POA20 is available for use with DeFi protocols on the mainnet like Uniswap. POA20 can be exchanged for other tokens or used to provide liquidity to the protocol.
With the Coinpayments application, merchants can accept POA20 for payments their e-commerce websites or even in person using a POS system. See our tutorial on Coinpayments integration for more information.
What is Possible? Any business or service provider can also choose to accept POA, POA20 or any other cryptocurrency as payment. While many businesses accept Bitcoin or Ethereum, new trading platforms and merchant portals are needed to facilitate widespread adoption of currency tokens as payment.