Indian telecoms provider Reliance Jio Infocomm Limited (known as Jio) has pledged to build what it describes as one of the world’s largest blockchain networks.
Chairman: Nodes to be active from day one
Speaking at the company’s 42nd AGM (1.01) on Aug. 12, chairman and managing director Shri Mukesh D. Ambani said blockchain technology formed one of three main areas of expansion for Jio.
Since debuting in 2015, the company has become one of India's major mobile networks, with a current user base of over 330 million people.
“Over the next 12 months, Jio will install across India one of the largest blockchain networks in the world, with tens of thousands of nodes operational on day one,” Ambani promised.
His comments came as India faces a backlash over its plan to ban cryptocurrency while championing blockchain technology at state level.
As Cointelegraph reported, outside commentators have joined the anger coming from the local crypto industry amid warnings from the central bank it could criminalize interaction with unsanctioned tokens such as Bitcoin (BTC) in the future.
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