Jio Platforms, Owned by Asia's Richest Person, Mukesh Ambani, Partners with Polygon Labs to Upgrade Offerings with Web3 and Blockchain Capabilities

Reliance subsidiary Jio and Polygon Labs, the developer arm of Polygon Technology, entered into a strategic partnership for Jio's Web3 and blockchain debut

Indian mobile network operator Jio Platforms, owned by Asia’s richest person Mukesh Ambani, has partnered with Polygon Labs to integrate some of its existing offerings with Web3 and blockchain capabilities.

Reliance subsidiary Jio and Polygon Labs, the developer arm of Polygon Technology, are joining forces to spearhead Jio’s Web3 and blockchain debut in India, according to information shared with Cointelegraph on Jan. 16.

Speaking to Cointelegraph, Polygon co-founder Sandeep Nailwal said the partnership with Reliance Jio marks a significant step forward for Web3 adoption in India and a signal for the rest of the world to follow suit, adding:

“Polygon Labs will support Jio and work closely to integrate blockchain across its various applications to unlock the potential of blockchain-based solutions.”

Polygon Labs will help Jio add Web3 capabilities to some of the existing applications and services, which currently cater to over 450 million customers.

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Kiran Thomas, CEO of Jio Platforms, shared his excitement “to explore the boundless possibilities of Web3 and bring unparalleled digital experiences” to their users.

Polygon bets big on India’s Web3 growth

Nailwal told Cointelegraph that Web3 elements can enable better digital experiences, which are more personalized, rewarding and faster to distribute securely — and without costly and often slow-moving go-betweens.

He explained how the Polygon partnership will enable Jio’s vast user base to “tap into the advantages of Web3, from enhanced privacy and control over their personal data to access to new, innovative and potentially rewarding services — all without needing to understand the complex infrastructure behind it.”

Polygon blockchain preferred for low gas fees and faster transactions

On Jan. 13, the Indian government began issuing NFT train tickets over the Polygon blockchain to passengers traveling to a rare Hindu festival that is celebrated every 144 years.

A dedicated portal to manage NFT tickets issued by the Indian Railways. Source: NFTtrace

The initiative was made possible by a partnership between the Indian Railway Catering and Tourism Corporation (IRCTC) and blockchain firm Chaincode Consulting. As per the official announcement, the Polygon blockchain was chosen for the initiative due to its faster throughput and low gas fees.

“By partnering with IRCTC and leveraging the Polygon blockchain, we are enabling a digital-first experience that complements the spiritual and traditional significance of the Mahakumbh while introducing a new level of engagement through NFTsl,” said Chaincode Consulting CEO Alok Gupta.