Fashion
Through this collaboration, Jio aims to integrate Polygon’s blockchain solutions into its existing applications and services, expanding Web3 capabilities to its extensive customer base of over 450 million users.
“Reliance leverages the infrastructure that Polygon has in order for them to go out and enable their users to use the stack. They can go out and build an application running on Polygon as a backend, allowing users to leverage the technology,” explained Aishwary Gupta, Global Head of Payments, Polygon Labs.
Gupta refrained from disclosing specifics about the Web3 products being developed in collaboration, citing confidentiality. He did, however, emphasize the broader potential of blockchain technology in India, extending beyond its conventional use in cryptocurrency and virtual digital asset (VDA) trading.
Gupta highlighted that, in India, new applications for the technology are emerging, particularly at the intersection of AI and cryptocurrency, where they are being used to create advanced agentic frameworks, build communities on blockchain platforms, and improve payment systems. Although, he noted that current financial infrastructure is not yet equipped to handle the requirements of Web3.
He further emphasized the potential of developing a marketplace where users can trade vouchers as non-fungible tokens. The company has previously collaborated with brands like Flipkart on similar initiatives, according to a company representative.
“We have done everything which was Web3 while working with 60 brands. Users do not know that they’re interacting with Polygon since it is in the backend,” he said.
Web3 represents the next evolution of the internet, leveraging blockchain technology to enable use cases such as cryptocurrencies, NFTs, and decentralized finance. Its decentralized structure provides users with greater control over their digital interactions and assets.
