Polygon Labs is working with India’s largest telecom operator, Reliance Jio, to integrate blockchain into the company’s existing infrastructure.
Jio, a subsidiary of Reliance Industries, serves around 450 million Indians and plans to use Polygon’s technology stack to enhance its existing applications and services with blockchain and Web3 capabilities, a January 15 report said. announcement.
While details on the exact nature of the Web3 products expected to be launched as part of the partnership have not been disclosed, Kiran Thomas, CEO of Jio Platforms Ltd, said the move would enable the company to “explore the limitless possibilities of Explore Web3 and deliver unparalleled digital experiences. ” for its users.
In comments Speaking to local media, Aishwary Gupta, global head of Payments at Polygon Labs, added that the partnership would enable Jio to build applications on Polygon’s blockchain infrastructure, allowing Jio users to seamlessly interact with Web3 technology without being exposed to its complexity.
Polygon CEO Marc Boiron emphasized the importance of the partnership in a Jan. 16 post, X, noting that it was already live on Polygon’s proof of stake network. See below.
The development has resonated well within the Polygon community, with many seeing it as an opportunity to drive widespread adoption of the blockchain network. POL, the blockchain’s native token, was up more than 5% on the day of writing.
Reliance Industries, led by Asia’s richest person Mukesh Ambani, has been at the forefront of technology innovation in India and has spearheaded initiatives that have redefined industries, including leading the country’s 4G revolution to make fast internet widely accessible.
The company’s interest in blockchain technology goes back several years. Notably, Reliance has previously invested in Vakt Holdings Limited, a UK-based distributed ledger technology company, to digitalize its energy trading processes.
Meanwhile, Mukesh Ambani’s eldest son, Akash Ambani, has publicly endorsed blockchain and cryptocurrencies and was reportedly linked to JioCoin, the telecom giant’s rumored digital currency initiative.
