- Polygon partners with Jio to bring Web3 capabilities to 450 million users in India.
- The partnership aims to integrate blockchain technology into Jio’s existing applications and services.
- Crypto analyst Ali Charts predicts a potential 40% price increase for Polygon (POL), contingent on a sustained breakout above $0.47.
Polygon Labs has teamed up with Reliance Jio, India’s largest telecom operator to integrate blockchain capabilities. This collaboration could potentially reach over 450 million users, and significantly accelerate Web3 adoption in India.
According to the official blog post, Jio will leverage Polygon’s Proof-of-Stake (PoS) blockchain technology to incorporate Web3 features into select applications and services. This partnership is aimed at bringing an array of innovative Web3 experiences. This includes decentralized applications (dApps) to blockchain-based loyalty programs and secure data management solutions.
“Joining forces with Polygon Labs marks a significant milestone in Jio’s journey towards digital excellence,” said Kiran Thomas, CEO of JPL. “We are excited to explore the boundless possibilities of Web3 and bring unparalleled digital experiences to our users.”
Sandeep Nailwal, Founder of Polygon, expressed enthusiasm about the partnership, stating, “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 Technical Outlook
Despite trading way below its previous peak of $3 before the upgrade, market experts remain bullish on Polygon (POL). Renowned crypto analyst Ali Charts has suggested a potential 40% move in the near future. According to his analysis, a sustained close outside the $0.47 to $0.41 range will determine the direction of the breakout.
Overall, this partnership has the potential to democratize access to Web3 technologies in India. This means bringing blockchain-powered solutions to a massive user base. Through this partnership, Jio and Polygon aim to create a seamless and user-friendly experience for millions of Indians.
