India's richest man to launch a new blockchain

by in Blockchain News

Mukesh Ambani blockchain

On of the Indian mobile operator', Reliance Jio Infocomm, owned by the country's richest man Mukesh Ambani, intends to launch its own blockchain within a year. This was stated by Ambani himself. “From the first day, tens of thousands of active nodes will be online,” he stressed.

So, it is assumed that the new network will become the largest operating blockchain and will focus on the distribution of content while maintaining data privacy.

“Blockchain will allow us to develop a completely new standard for privacy, in which the data will belong to the people of India, and not to global corporations,” he added.

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Note that the company also entered into a partnership with Microsoft, involving the use of the Azure cloud platform for the "digital transformation of India."

Most likely, the Jio Infocomm blockchain will not have a native token, since, as you know, the bill on the complete ban on cryptocurrencies is already under consideration by the government.

In early 2018, it became known that Jio Infocomm intends to launch its own cryptocoin to manage supply chains and loyalty programs called JioCoin. So, the announced project may be a variation of previously announced plans.

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In the past, Ambani's conglomerate Reliance Industries also used the R3 Corda blockchain platform to conduct export transactions.