Reliance Jio will install across India one of the largest blockchain networks in the world over the next one year, with tens of thousands of nodes operational on day one.
“Using blockchain we can deliver unprecedented security, trust, automation and efficiency to almost any type of transaction. This is a vital capability for India especially for modernising our supply chains for agricultural produce and other goods which form the lifeblood of our economy,” Mukesh Ambani, Chairman, Reliance Industries, said at the company’s AGM here.
“And using blockchain, we also have an opportunity to invent a brand-new model for data privacy where Indian data especially customer data is owned and controlled through technology by the Indian people and not by corporates,especially global corporations,” he added.
Created initially from crypto-currencies such as bitcoin, blockchain technology has become a platform that is being used across different applications by industries such as banking, financial services.