32. Polygon: Decrypting the Future of Web3 (with Jaynti Kanani, Co-Founder of Polygon) | Web3

**Jaynti Kanani** (0:00)
People, developers in India, were building products for India, not for the world, right? And now, with Polygon, that is changing.
People are actually inspired by the Polygon. I've seen a lot of messages from everywhere. Whenever I go on the Indian meetup, they say, okay, we are inspired, and we want to do something as well. So I realized that now people get that mindset, okay, we can also build something out of India for the world, which was not the case before.

**Ronit Ghose** (0:58)
Thanks, thanks Ronit, Gaurav, for having me. Thank you. And yeah, this is the typical Zoom call, right? It is, yeah, absolutely.

**Jaynti Kanani** (0:59)
It had to happen.

**Ronit Ghose** (0:59)
So Jaynti, let's start off. A lot of people listening to this are live or on the podcast replay, obviously know who you are, what Polygon is. But for the people who don't know, just give us a brief introduction about who you are, what you do, and if you had to explain your job to your mother or your grandmother, how would you explain it?

**Jaynti Kanani** (1:13)
Yeah, so first of all, Jaynti Kanani, this side, I also go by JD. So if, you know, people, some people call me JD, here and there, founder of Polygon, and Polygon specifically scales blockchain, and in that, particularly Ethereum, right? So if you think about like multiple blockchains in the wild, Bitcoin, Ethereum, multiple others, they are very, very slow. And we started only one goal in mind to scale that, make it cheaper for people, retails, developers, easy to use for them. And that's what we do, like, you know, we kind of create a layer on top of Ethereum blockchain, make it faster, cheaper, easy to use for developers, right? And if you, I'm just giving an example. I, for example, Starbucks and Meta, Instagram, they recently launched NFTs on the platforms and those NFTs are on Polygon. So for example, for normal people, if they are using Starbucks, you know, loyalty program or Instagram collectibles, they might not know like what they are using, but they are internally using the Polygon. That's the main goal of Polygon itself.
And if, again, like, you know, if I want to explain it to my parents, I'm not sure, like I would try to explain to them, but I always... What do your parents think you do? They think like I'm in software. I'm a software, you know, some IT, IT, IT guy, so...
They don't understand the words of startups and investment and all those things. They just say, okay, my son is in IT, right? So if someone's son is in IT, someone's daughter is in IT, they just connect me with them and say, okay, just give them, help them to get a job, right? So that's how they work, right?
So if I want to explain like how it works, so I just give the example of Google Pay. I'm not sure if people know here, but Google Pay or Paypal, you could say, on banks are like very good example of, to explain like how it should work. So banks are very slow in a way, like you cannot kind of do the P2P payment or over the banks in outside India. Like in India, like now, like we have UP and everything, but still like before that it was an EFT, et cetera, which was very, very slow. So I just explained people to you, hey guys, like we are building the PayPal or Google Pay or Paytm on top of banks, which is faster and cheaper, and people can build their own applications. So for example, if you want to do like kind of, take the bus or train, you can go on the platform and do that, right? And we provide the platform for that. So I think this is like, this might not work for my parents, this explanation, but for normal people who are like, know like what is the bank and the paytm people and everything, they would understand like, okay, this is what it is.
And in the blockchain, like I try to explain it to them, like, oh, it's a new money, you can replace the money and they're like, okay, what are you talking about? Right? So, very, very difficult.

**Ronit Ghose** (4:45)
So, I'm looking forward to your explanation of Web3 to them.

**Gaurav Dhar** (4:52)
We're supposed to go easy on this. We're not supposed to give them such a tough time, but you know what, but you know what? To be fair, Ronit, your questions are so universal. I, JD, you have to answer them.

**Ronit Ghose** (5:08)
I can ask these questions, right? So, I need someone to help me explain them, you know. Be honest, is crypto going up or down? They're saying that these questions come up, so.