Asia’s Richest Man Mukesh Ambani announced that Reliance will be working on the leading technologies which include Blockchain, edge computing, and virtual and mixed reality.
He mentioned that Jio, a subsidy company under reliance is working on over the future technologies including blockchain. Over 6000 software engineers are continues working towards the end goal.
The company is planning to set up ten thousand blockchain nodes, planning for the instant payment solution, eliminating intermediaries.
Ambani mentioned, “This is another way we are building talent. And on the back of this talent, we are now investing in scaling-up advanced technologies in our country even ahead of the rest of the world.
CEO of one of India’s leading crypto exchange mentioned,
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 #IndiaWantsCrypto
— Nischal (WazirX) ⚡️ (@NischalShetty) August 12, 2019
Jio is already using blockchain base services to deliver secure and efficiency over the data.
The company, over the next 12 months will install the blockchain network across the entire country, making it world the largest network hosting over 10000 blockchain nodes.
The Reliance blockchain will be running smart contracts which are capable of doing instant transparent payment solution at a minimal fee in a most secure environment. The blockchain technology will be useful for the transparent supply chain in the agricultural field and also securing the privacy of user’s data.
The Action plan mentioned,
Blockchain as a technology is currently being explored to enter into smart contracts with customers and vendors for instant matching and settlement of processing on blockchain connected platforms eliminating intermediaries.
You might like learning blockchain basics at Cryptocurrency Basics- Cryptokosh
What’s More Reliance Planning For Future?
Along with blockchain-based solutions, Reliance is also planning to work on the IoT base service, Computer vision, Machine Learning, Robotics process, and automation.
The Jio Fiber, a fiber internet providing service will be soon be rolling out to the customers; starting from 5th September. The Jio Fiber internet service will provide end-user a welcome offer to get a free 4k TV. The service will provide offering free voice calls for life from landline phones, high-speed broadband of minimum speed of 100 Mbps, free high definition TV, and dish all this for under Rs 700 only.