Good news for Indian crypto ecosystem. While cryptocurrency is still a taboo in various segments of the society and banking, entry of Jio, may change the outlook towards it.
While I understand there will be no crypto related activities involved, still it will have some reputational impact which is probably going to be positive.
Also with Ambani's connection into the south block may help the crypto community in India in some ways. Let's hope for the best!
That is quite true, after the entry of Jio only the internet becomes cheaper, before that it was in the control of few companies too but they were charging like 199 per GB and Jio entered every company ran out of business and only Airtel is surviving now. We can't say that no crypto involvement here especially they picked the Polygon network the transfers fees must be paid in the native coin right thus increases the demand so the price. Or they are planning for private blockchain that doesn't involve the crypto?
BTW, do you think (@everyone) this news is enough reason to buy Polygon for short term profits ?
I am sure the Polygon team will try to market this adoption in their favour and try cashing out so there is high possibility for short term growth if things are implemented.
On another note, seeing so many states allow bitcoin into strategic reserves make me hopeful that Indian being a follower of what Western countries have done all along, might follow suit.
India will likely follow the trend too by adding them into the reserves but I doubt it will change their approach towards bitcoin, they might take the approach of Chinese government they accumulate as much as they can while discourage their citizens from holding, trading and mining cryptos.