Hope It Breaks Ice for Web3 Adoption: Sandeep Nailwal on Jio and Polygon Partnership To Bring Web3 Solutions to 450M+ Users Notably, this will be JPL's Web3 and blockchain debut in India
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Jio Platforms Ltd (JPL), the digital services subsidiary of India's largest conglomerate Reliance and parent of Reliance Jio Infocomm Limited (Jio), has announced a strategic alliance with Sandeep Nailwal's Polygon Labs, the development team behind Polygon Protocols.
On Thursday, the wholly-owned Reliance unit shared that it would be leveraging Polygon's blockchain solutions to create innovative Web3 services for its existing 450+ million customers.
"I'm hoping that this will break the ice for everyone. If Reliance can do it, so can you. Hope it opens up more experimentation in the Indian space," shared Sandeep Nailwal, co-founder and COO, Polygon exclusively with Entrepreneur India.
Notably, this will be JPL's Web3 and blockchain debut in India. "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 Kiran Thomas, CEO, JPL.
Forging a pivotal participation in the domestic market, Nailwal shared, "This is a significant step forward for web3 adoption in India." Polygon previously partnered with Flipkart to develop the foundation of the Blockchain-Ecommerce Centre of Excellence.
The Jio-Polygon announcement followed close on the heels of the blockchain player partnering with Indian railways for issuing of non-fungible tokens (NFT) train tickets over the Polygon blockchain to passengers travelling to the rare Maha Kumbh that is celebrated every 144 years.
At present, India stands at the forefront of the global web3 ecosystem. The country boasts over 1,000 Web3 startups across sectors, securing funding exceeding USD three billion.
