ECNETNews reports that Polygon Labs has joined forces with India’s leading telecom provider, Reliance Jio, to integrate blockchain technology into its infrastructure.
Reliance Jio, a subsidiary of Reliance Industries and serving approximately 450 million customers, aims to enhance its applications and services through blockchain and Web3 capabilities using Polygon’s technology. This partnership was announced on January 15.
While specific details regarding the Web3 products that will emerge from this collaboration were not unveiled, Jio Platforms Ltd CEO Kiran Thomas emphasized that this initiative aims to “explore the boundless possibilities of Web3 and deliver unparalleled digital experiences” for users.
Aishwary Gupta, global head of Payments at Polygon Labs, remarked that the partnership would enable Jio to develop applications on Polygon’s blockchain infrastructure, facilitating user interaction with Web3 technology while keeping complexities at bay.
Polygon CEO Marc Boiron highlighted the importance of the partnership in a January 16 update, noting it is already operational on Polygon’s proof of stake network.
This collaboration has generated significant excitement within the Polygon community, as many view it as a major step towards large-scale adoption of the blockchain network. POL, the native token of the blockchain, experienced a surge of over 5% on the day of the announcement.
Reliance Industries, under the leadership of Asia’s richest individual, Mukesh Ambani, continues to spearhead technological advancements in India, significantly impacting various industries and driving the nation’s 4G internet revolution.
The company has demonstrated a long-standing interest in blockchain technology, previously investing in Vakt Holdings Limited to digitize its energy trading processes. Moreover, Akash Ambani, the eldest son of Mukesh Ambani, has publicly supported blockchain and cryptocurrencies, and has been linked to JioCoin, a rumored digital currency initiative from the telecom giant.
