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India’s homegrown e-commerce big Flipkart will use Polygon’s chain growth equipment (CDK) to launch a Web3 loyalty program.
On Dec. 2, Polygon and Flipkart announced a strategic partnership to successfully place the e-commerce platform into Web3 and the metaverse. This included initiatives reminiscent of Flipverse for nonfungible tokens (NFTs), eDAO for metaverse and the FireDrops NFT market.
Constructing on this partnership, Polygon co-founder Sandeep Nailwal introduced on Dec. 7 that Flipkart will use Polygon CDK to scale its FireDrops Web3 loyalty program.
Principal announcement for immediately@Flipkart, the biggest ecommerce and one of many largest funds firms in India is launching an ecosystem chain with @0xPolygon CDK.
That is an sport changer for Web3 ecosystem in India. It not solely has the potential to draw the highest fintech… pic.twitter.com/gItcp4IjqB— Sandeep Nailwal | sandeep. polygon (@sandeepnailwal) December 7, 2023
Flipkart shared plans to make use of Polygon CDK as the bottom to construct an Ethereum-based zero-knowledge (ZK) layer-2 community, which may help the e-commerce platform scale future development and streamline its service.
Flipkart may also use the Polygon CDK to supply a streamlined onboarding expertise, devoted blockspace and low transaction charges to its customers, amongst different companies. Whereas saying the initiative, Nailwal acknowledged:
“It is a sport changer for Web3 ecosystem in India. It not solely has the potential to draw the highest fintech entrepreneurs in India to construct Web3, nevertheless it additionally would possibly encourage many different prime Enterprise and shopper manufacturers to construct their appchains.”
Nailwal additionally believes that participation from main organizations will additional cement India’s place as a Web3 powerhouse. “Future upgrades to Polygon CDK may also permit for enhanced privateness for transaction knowledge, the flexibility to run the chain with no token or to make use of a central financial institution digital forex and entry to liquidity within the larger Polygon and Ethereum ecosystems,” Polygon mentioned.
Associated: Polygon blockchain explained: A beginner’s guide to MATIC
Naiwal’s counterpart, Polygon co-founder Jordi Baylina revealed that 2024 will see the amalgamation of Polygon’s numerous Ethereum layer-2 scaling networks to finish its “Polygon 2.0” cross-chain coordination protocol.
Chatting with Cointelegraph, he mentioned that Polygon 2.0 will take a look at how the Polygon ecosystem’s numerous networks can scale and combine by the implementation of zero-knowledge proofs (ZK-proofs).
Journal: Slumdog billionaire: Incredible rags-to-riches tale of Polygon’s Sandeep Nailwal
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