Telecom giant Jio Partners With Polygon Labs to Accelerate Web3 Adoption in India

Jio Platforms, a subsidiary of Reliance Industries and one of India’s leading technology companies, has entered into a strategic partnership with Polygon Labs, the developer arm of the Polygon Protocols. 

This collaboration marks a milestone in Jio’s venture into Web3 and blockchain technology. Jio aims to integrate these technologies into its existing services.

Jio Enters Web3 with Polygon

The partnership will focus on incorporating Web3 capabilities into some of Jio’s popular applications and services, which already serve over 450 million customers across India. 

Using Polygon’s advanced blockchain solutions, Jio aims to create new digital experiences that could change user experiences.

Kiran Thomas, CEO of JPL, expressed excitement about the partnership, emphasizing the potential for groundbreaking developments in the Web3 space.

“Joining forces with Polygon Labs marks a significant milestone in Jio’s journey towards digital excellence. We are excited to explore the boundless possibilities of Web3 and bring unparalleled digital experiences to our users,” said Thomas.

In addition, Polygon Labs’ founder, Sandeep Nailwal, expressed enthusiasm for the partnership as well. He highlighted its importance for the future of Web3 adoption in India.

Nailwal also added that with Jio’s entry into Web3, India is on track to become a leader in Daily Onchain Users (DOU), quickly outpacing others in this space.

“Jio is the company which brought India online and now is going to take India onchain. It is so big in India that many thinkers would tell you that it has significant impact on India’s current GDP growth. Now they coming into Web3. India will soon will be miles ahead in terms of DOU, Daily Onchain Users,” Nailwal wrote on Twitter.

Moreover, the collaboration between Jio and Polygon is expected to pave the way for the adoption of decentralized technologies in mainstream applications, ranging from digital payments to content creation. 

It appears the announcement boosted Polygon’s native token. POL was up nearly 7% over the past 24 hours and was trading at $0.478 at press time.

Polygon Weekly Price Chart. Source: TradingView

In another development, Indian Railways is issuing NFT-based tickets for the upcoming MahaKumbh Mela festival on the Polygon blockchain.

The MahaKumbh Mela, one of the largest religious gatherings in the world, will now feature NFT-based tickets. Attendees will now be able to access the event in a secure, tamper-proof way.

Moreover, the move to issue NFT tickets on Polygon combines cultural significance with blockchain innovation. This further solidifies the role of Web3 technology in transforming various sectors.

With Jio’s partnership with Polygon Labs, it’s clear that Web3 technologies are finding applications across diverse industries in India.

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