Polygon Labs has partnered with Reliance Jio, India's largest telecom operator, to integrate blockchain into the company's existing infrastructure.
Jio, a subsidiary of Reliance Industries, which serves approximately 450 million Indians, will leverage Polygon's technology stack to develop blockchain and Web3 capabilities, according to a January 15 announcement. The company plans to enhance its existing applications and services.
While details about the exact nature of the Web3 products to be launched as part of the partnership were not disclosed, Jio Platforms Ltd CEO Kiran Thomas said the move would allow the company to “explore the endless possibilities of Web3. and deliver an unparalleled digital experience.” ” to the user.
Aishwary Gupta, global head of payments at Polygon Labs, said in comments to local media that the partnership will allow Jio to build applications on Polygon's blockchain infrastructure, and Jio users will be able to He added that it will allow them to interact seamlessly with Web3 technologies without exposing them to complexity.
Polygon CEO Marc Boiron emphasized the importance of the partnership in a Jan. 16 X post, noting that it is already live on Polygon's proof-of-stake network. See below.
This development has caused a huge stir within the Polygon community, with many seeing it as an opportunity to accelerate large-scale adoption of blockchain networks. POL, the blockchain’s native token, is up over 5% as of this writing.
Reliance Industries, led by Asia's richest man Mukesh Ambani, is at the forefront of technology innovation in India, with efforts to redefine industries, including leading the country's 4G revolution that will make high-speed internet widely accessible. I have been at the forefront of
The giant 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 digitize energy trading processes.
Meanwhile, Mukesh Ambani's eldest son Akash Ambani has publicly supported blockchain and cryptocurrencies and has reportedly been linked to the telecom giant's rumored digital currency initiative, JioCoin. There is.