Polygon partners with Flipkart and Walmart

Polygon is a blockchain that has got good attention because they are providing an alternative to the Ethereum blockchain. Their token name is MATIC and we have seen its price grow significantly. Even during the market crash, the token price is not bad and it shows that the project is strong and built on a solid foundation.

this partnership is good for E-Commerce because this way they will be working on building an infrastructure on the blockchain to boost growth and sustainability. E-Commerce is a growing sector and with the environment of blockchain it will become more transparent and things will be in better control. Many companies are operating in this statement and they are struggling with data management but with blockchain, this is going to be easy for them and hopefully, with such implementation, they are going to make their operations easier that can accommodate the growth they are expecting in the next couple of years.

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Flipkart, which is 77% owned by U.S. e-commerce giant Walmart, said in a press release that the partnership will result in the setting up of a Blockchain-eCommerce Centre of Excellence (CoE). The CoE will work on research and development of Web3 and metaverse commerce use cases in India to accelerate the adoption of Web3, the release noted.

Flipkart is a leading E-Commerce company based in India and it is owned by Walmart. Walmart holds a bigger take in Flipkart but they do not have a presence in India with the brand name Walmart. India is a bigger market for the E-Commerce and Amazon is already there. As of now, there are two players which are competing with each other and these are Amazon and Flipkart. There has been no news in the past that Amazon is also exploring the blockchain but with Flipkart, this partnership can be valuable to the company where they can establish themselves more strongly.

Polygon network is cost-effective and transaction settlement is quite fast. When it comes to transaction fees then most people look for a platform that can make it affordable but there should be no compromise on the transaction settlement time. Polygon is a scalable blockchain network that is capable of running Ethereum applications as well as it is working on more innovation to its network and also encouraging green energy.

currently, I am not sure if any E-Commerce company is operating on the blockchain but it is expected that in the next couple of years some of these brands are going to use blockchain technology. It is a growing technology that can manage the data on a scale so it will be easier for these companies to manage the database and grow their business faster. This will also allow the blockchain network to expand and bring more segments under these blocks and technology to strengthen its technological setup and make it more transparent.

This is a good start and we may see more names in the list that will blockchain network for their business. This is also a solid partnership to boost the Matic price and we may see the impact on the same soon however the current market is in a bear trend so it may take a bit longer.

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