Hello Readers,
With the rise of cryptocurrency, one technology that emerged and gained immense popularity across the globe is web3. If you can imagine an entirely new version of the internet where you actually have full control over your data and not any company or website you are visiting, the possibility to execute faster transactions and state-of-the-art security leveraging the decentralization blockchain technology, not to mention all of this advantages without any middlemen. This is what Web3 promises and as we can clearly see, most of the crypto tokens and projects are built and run right now are Web3-enabled, including our beloved Hive blockchain and its projects as well.
I hope it would not be an exaggeration to say that Web3 is the next evolutionary stage of the internet. We all know that the whole internet in today’s era is fully controlled by large corporations, who use our data without our permission and sell them, also restricting free speech on social media or controlling our choices. On the other hand, Web3 relies on a decentralized system while leveraging blockchain technology. This simply means that instead of storing data on a single central server, the user or transaction information is distributed across multiple networks worldwide in a decentralized manner, making it even more secure and private than what is offered in today’s web2 era.
Now coming back to the topic, I stumbled upon a news today that made me excited, as India is finally preparing to take a big leap into this future, as a groundbreaking partnership between Jio Platforms and Polygon Labs just surfaced. So in today’s post, I will be talking about Jio’s bold step to enter the web3 and if you are interested, let’s take a dive without any further ado.
What is Jio
Jio aka Reliance Jio Infocomm Limited is one of the biggest Telecomm companies in India and a subsidiary of Jio platform. The CEO of Jio is Mr. Mukesh Ambani, who is currently the richest man of entire Asia and I am sure many of you have heard about the Ambani Family wedding last year. Anyway, Jio stands for Joint Implementation Opportunity and it is an integral part of the whole Reliance industry and it is currently number 1 in India with a whopping 482 million wireless subscriber base. So, when Jio gets its hand on something, it automatically becomes the new talk of town.
The Jio and Polygon Partnership
On January 15, 2025, Jio Platforms, India’s top mobile network operator and over 450 million total users across its different platforms, teamed up with Polygon Labs, which is the developer of one of the top blockchains named Polygon. This amazing partnership aims to introduce Web3 technologies to Jio’s services and thus offer Indian users cutting-edge digital experiences in web3.
Jio’s CEO, Kiran Thomas has also shared his excitement about the groundbreaking partnership, saying that it marks a major step in their mission to create a world-class digital solution. "We are excited to explore the boundless possibilities of Web3 and bring unparalleled digital experiences to our users," he said. On the other hand, Sandeep Nailwal, the founder of Polygon has also supported this enthusiasm strongly by calling it a significant milestone for the adoption of Web3 in India.
What Does This Mean for India?
This revolutionary partnership is not just about the web3 technology, it is also about transforming the way how millions of Indians interact with the digital world. Jio will use Polygon’s cutting-edge blockchain technology to enhance its chain of apps, making them faster, safer and more personalized according to users. For example - this partnership will work to upgrade Jio’s existing environment to web3 to execute quicker online payments or to protect your personal data better.
Polygon blockchain is one of the best crypto projects and on top of it, Polygon is no stranger to India, as just recently, the Indian government has used Polygon’s blockchain to create NFT train tickets for the ongoing Mahakumbh festival. These tickets were not only time- and cost-efficient but also demonstrated how flexible and cost-effective they can be while operating in a more secure environment using Polygon’s technology.
The Polygon blockchain has its own cryptocurrency called POL, which was previously known as MATIC. As of January 15, 2025, the value of POL rose by 4.82% to $0.4786. This clearly shows the growing confidence in Polygon’s capabilities as it partners with a business giant like Jio.
Why This Collab Matters
Since the launch of the Digital India campaign on 1st July 2015 by India’s Prime Minister Narendra Modi, India has been pushing aggressively for a digital revolution in the country. After the great success of the digital UPI payment system and nationwide e-governance system, this upcoming collaboration between Jio and Polygon is a major leap forward in that revolution and I personally think this collaboration will contribute immensely to the cause. It will bring the advantages of blockchain technology like pure transparency, state-of-the-art security, and full user control over data one step closer to ordinary users in the country.
With this unexpected but huge partnership, Jio’s grand entry into the Web3 world will become the foundation stone for a new chapter, not only for its customers but for the whole country. With more secure services and innovative features on the horizon, this partnership has immense potential to make India an upcoming leader in the Web3 realm in the future. By combining Jio’s vast millions of existing user base with Polygon’s blockchain expertise, this partnership has the potential to unlock endless possibilities in the near future. Whether it is to improve existing apps and Digital services, better privacy, or build entirely new services, one thing is clear - the future of India’s internet is here, and it’s powered by Polygon.