- Reliance Jio and Polygon have announced a partnership
- This gives Polygon access to over 450 million users
- They aim to enable Web3 services and fundamentally improve India’s digital landscape
India’s largest telecom company with a user base of over 450 million and key blockchain developer Polygon Labs announced a partnership.
While details of the developments remain secret, they intend to provide Web3 services and fundamentally improve India’s digital landscape.
Reliance Jio’s partnership with Polygon Labs: Purposes & Potential
Jio Platforms, of which telecom provider Jio is a part, is a subsidiary of Reliance Industries. A huge conglomerate of strategic matter with developments in various fields like energy, petrochemicals, natural gas, retail, entertainment, telecommunications, mass media, and textiles.
Polygon Labs is not the last player in DeFi either and represents a very big strategic value for Reliance Industries if they want to grow in the crypto industry too. Therefore, their partnership does have a lot of potential.
While plans for specific developments and integrations have not been described in detail by either party yet – they have been quite clear about their goals. They aim to provide a vast user base with advanced Web3 services that can overcome Web2 obstacles and significantly improve India’s financial systems, payment services, and digital landscape.
Kiran Thomas, CEO, JPL said:
“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.”
Polygon’s founder Sandeep Nailwal has also been optimistic:
“This is a significant step forward for web3 adoption in India. We look forward to working with Jio as they introduce Web3 to their millions of customers.”
Conclusion
Bitcoin’s adaptation is driving a similar trend for the entire crypto industry and major companies.
They probably no longer see it as a third-party development by enthusiasts, but a full-fledged infrastructure with grown solutions, many of which are originally developed without the flaws of Web2 solutions.
This could prove to be a big shift not only economically but also technically in the way we work with information, rethinking previous services and products and the requirements we place on them.
However, this shift can go in very different directions, and many factors can interfere with this process. Be aware and stay tuned.
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