Reliance Jio will install one of the largest blockchain networks in the world in India

Reliance Industries Ltd (RIL) 42nd annual general meeting (AGM)

At its 42nd annual general meeting (AGM), Reliance Industries Ltd (RIL) chairman and managing director Mukesh Ambani today announced that Reliance Jio will install one of the largest blockchain networks in the world in India over the next 12 months with tens of thousands of nodes operational on day one. Jio is setting up a pan-India Edge Computing and Content Distribution network starting with tens of thousands of nodes.

Update from Mukesh Ambani's speech at Reliance AGM :


Today, Reliance Retail is the only Indian retailer to be ranked in the Global 100 top retailers. Over the next 5 years, our aim is to be amongst the world’s top 20 retailers.

He says Jio will provide connectivity and the Jio-Azure cloud service to Indian technology startups absolutely free. Jio to set up a network of large world class datacenters all over India powered by Microsoft’s Azure cloud platform. The Jio-Microsoft alliance will accelerate digital transformation with the launch of new cloud datacenters. Jio enters long-term alliance with Microsoft.

What does it means to Indian crypto industry, Will it change anything ?

After this announcement, Indian crypto exchange WazirX CEO Mr. Nischal Shetty tweeted with the hope that crypto sector in India just got a huge boost as he believes that to run public blockchain need cryptocurrency.

He tweeted :

Boom! Asia's richest man, India's most profitable company, Reliance, just announced their entry into Blockchain. Reliance intends to run thousands of blockchain nodes. Public Blockchain needs crypto to run. Crypto sector in India just got a huge boost

Disclaimer & Suggestion : Please always do your due diligence before investing in any cryptocurrency or project. This should not be treated as financial advice.


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