Flipkart, Polygon Forge Web3 Partnership

India’s domestic e-commerce behemoth, Flipkart, will launch a Web3 loyalty program utilizing Polygon’s chain development kit (CDK). A strategic partnership was declared between Polygon and Flipkart on December 2, with the aim of efficiently integrating the e-commerce platform into the metaverse and Web3.

This included initiatives such as the FireDrops NFT marketplace, eDAO for the metaverse, and Flipverse for nonfungible tokens (NFTs). Expanding upon this collaboration, Sandeep Nailwal, co-founder of Polygon, declared on December 7 that Flipkart will implement the Polygon CDK to enhance the scalability of its FireDrops Web3 loyalty program.

Flipkart disclosed its intention to construct an Ethereum-based zero-knowledge (ZK) layer-2 network using the Polygon CDK as its foundation. This development would enable the e-commerce platform to facilitate its service streamlining and accommodate future growth.

In addition to other services, Flipkart intends to utilize the Polygon CDK to provide its users with a streamlined onboarding process, dedicated blockspace, and affordable transaction fees. Nailwal stated, in addition to announcing the initiative, that he believes the involvement of prominent organizations will strengthen India’s standing as a Web3 superpower.

“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.”

Polygon stated, “Future enhancements to the Polygon CDK will also enable enhanced transaction data privacy, the ability to run the chain without a token or utilize a digital currency issued by a central bank, and access to liquidity in the larger Polygon and Ethereum ecosystems.”

In contrast to Naiwal, Jordi Baylina, co-founder of Polygon, disclosed that the integration of Polygon’s diverse Ethereum layer-2 scaling networks will occur in 2024 in order to finalize the “Polygon 2.0” cross-chain coordination protocol.

During an interview, he stated that Polygon 2.0 will utilize zero-knowledge proofs to assess the scalability and integration of the numerous networks comprising the Polygon ecosystem.