Jio Platforms Enters Web3 with Polygon Labs Partnership

New Delhi, Jan 16 (PTI) Jio Platforms Ltd has partnered with Polygon Labs, the developer arm of Polygon Protocols, for its debut in Web3 technology in India, Polygon Labs said on Thursday.

Under the partnership, Jio Platforms plans to add Web3 capabilities to some of its existing applications and services, owned and operated by the RIL Group firm, for its over 450 million customers.

"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," JPL CEO Kiran Thomas said.

The Web3 technology is built on blockchain technology that enables seamless access and control of a technology platform from multiple points without any compromise on security and experience. It also gives users control over their data.

Polygon is known for developing a blockchain layer to scale up the cryptocurrency platform Ethereum.

"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," Polygon's co-founder Sandeep Nailwal said.