Jio Platforms, a tech company owned by Reliance Industries and one of India’s top technology firms, has formed a strategic alliance with Polygon Labs – the development division of the Polygon Protocol network.
This partnership signifies an important step for Jio’s exploration into the realm of Web3 and blockchain technology. Their goal is to seamlessly blend these advanced technologies with their current offerings.
Jio Enters Web3 with Polygon
The collaboration aims to integrate Web3 functionalities within several well-used Jio apps and services that cater to more than 450 million users spread throughout India.
Employing cutting-edge blockchain technologies provided by Polygon, Jio aspires to innovate fresh digital encounters that may potentially revolutionize user interactions.
Kiran Thomas, head of JPL, showed enthusiasm over the collaboration, highlighting the prospect of revolutionary advancements within the realm of Web3 technology.
Thomas announced that teaming up with Polygon Labs is a major step forward for Jio as they strive for digital greatness. He’s thrilled about the opportunity to delve into the endless potential of Web3 and offer unique, top-tier digital experiences to our customers.
Moreover, Sandeep Nailwal, the founder of Polygon Labs, also showed excitement about the collaboration. He emphasized that this partnership is crucial for the future growth of Web3 integration within India.
Furthermore, Nailwal mentioned that as Jio enters the realm of Web3, it seems that India may swiftly surpass other nations in terms of Daily Onchain Users (DOU), positioning itself at the forefront of this particular sector.
Jio, the company credited with making India digital, is now set to propel India onto the blockchain platform. Given its immense influence in India, experts often attribute a substantial impact on India’s current economic growth. Soon, they will be venturing into Web3. This could potentially catapult India far ahead in terms of Daily Onchain Users.” – Nailwal tweeted on Twitter.
Furthermore, the partnership between Jio and Polygon could potentially accelerate the use of decentralized technology in everyday apps, spanning areas such as digital transactions and content production.
It seems that the recent announcement positively impacted Polygon’s native token (POL). Within the last 24 hours, it has increased by almost 7%, currently priced at $0.478 at the moment of reporting.
Additionally, tickets for the upcoming MahaKumbh Mela festival are being distributed as Non-Fungible Tokens (NFTs) by Indian Railways, utilizing the Polygon blockchain platform.
At the upcoming MahaKumbh Mela, one of the grandest religious events globally, there will be an innovation: NFT (Non-Fungible Token) tickets. This means that participants can now obtain entry to the event safely and with assurance against tampering.
In addition, transitioning to NFT (Non-Fungible Token) ticketing on Polygon blends cultural importance with blockchain ingenuity. This step reinforces the part Web3 technology plays in revolutionizing multiple industries.
Through Jio’s collaboration with Polygon Labs, it’s evident that Web3 technologies are proving useful in a wide range of sectors within India.
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2025-01-16 20:04