Reliance Jio’s board of directors approved the appointment of Akash Ambani as chairman. With the new generation taking command of Reliance Jio, the prospects of India’s leading telecom company adopting blockchain technology and moving forward into the web3 space appears promising.
Billionaire Mukesh Ambani has stepped down as the director of Reliance Jio Infocomm, one of India’s largest mobile network operators (RJIL). Akash Ambani, who is well-known for his belief in blockchain technology, the underlying technology for many cryptocurrencies, takes over as the CEO.
Akash Ambani has made a strong case for the deployment of peer-to-peer technology in Jio to enhance the customer experience. He reportedly said that OpenStack and AI are both becoming mainstream topics.
Several reports by Indian news sites highlighted Reliance Jio’s plans to develop its own version, known as JioCoin. JioCoin was to be under the direction of Akash Ambani.
Reliance Jio invested $15 million in Two Platforms Inc (TWO), earlier this year in order to accelerate the adoption of new technologies.
Founded by Pranav Mistry, Two Platforms creates real-time AI voice and video calls, digital humans, immersive spaces, and lifelike gaming.
India’s stance on crypto has been ambiguous, but the core blockchain technology is valued by the country’s economic center. The Indian central bank was reported to be in talks with top Indian banks about running a blockchain-based pilot project focused on trade financing.