Polygon CDK to power Web3 loyalty program for Indian e-commerce Flipkart

India’s homegrown e-commerce giant Flipkart will use Polygon’s chain development kit (CDK) to launch a Web3 loyalty program.

On Dec. 2, Polygon and Flipkart announced a strategic partnership to effectively position the e-commerce platform into Web3 and the metaverse. This included initiatives such as Flipverse for nonfungible tokens (NFTs), eDAO for metaverse and the FireDrops NFT marketplace.

Building on this partnership, Polygon co-founder Sandeep Nailwal announced on Dec. 7 that Flipkart will use the Polygon CDK to scale its FireDrops Web3 loyalty program.

Flipkart shared plans to use the Polygon CDK as the base to build an Ethereum-based zero-knowledge (ZK) layer-2 network, which can help the e-commerce platform scale future growth and streamline its service.

Flipkart will also use the Polygon CDK to offer a streamlined onboarding experience, dedicated blockspace and low transaction fees to its users, among other services. While announcing the initiative, Nailwal stated:

“This is a game changer for Web3 ecosystem in India. It not only has the potential to attract the top fintech entrepreneurs in India to build Web3, but it also might encourage many other top Enterprise and consumer brands to build their appchains.”

Nailwal also believes that participation from leading organizations will further cement India’s position as a Web3 powerhouse. “Future upgrades to Polygon CDK will also allow for enhanced privacy for transaction data, the ability to run the chain without a token or to use a central bank digital currency and access to liquidity in the greater Polygon and Ethereum ecosystems,” Polygon said.

Related: 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 various Ethereum layer-2 scaling networks to complete its “Polygon 2.0” cross-chain coordination protocol.

Speaking to Cointelegraph, he said that Polygon 2.0 will test how the Polygon ecosystem’s various networks can scale and integrate through the implementation of zero-knowledge proofs.

Magazine: Slumdog billionaire: Incredible rags-to-riches tale of Polygon’s Sandeep Nailwal

Articles You May Like

Sunak’s tax pledge is ‘Truss’s mini Budget on steroids’, says Labour minister
What to expect from the housing market in the second half of 2024, according to real estate experts
GameStop shares slide 16% following Friday’s 40% sell-off
US stocks hit record high on cooling inflation data
Russia halts foreign exchange trading as US sanctions sow confusion