- Reliance Jio enters a new partnership to explore blockchain-based solutions.
- The alliance with Aptos aims to introduce digital incentives to Jio’s over 500M users.
- APT’s price struggles amid the broader bloodbath, down 5% the previous day.
India’s leading mobile network, Reliance Jio, has inked a strategic deal with Aptos Labs and Aptos Foundation as it makes an ambitious move into the world of Web3 and blockchain.
The Aptos team revealed the collaboration on X, which aims to bring blockchain-powered rewards to Jio’s over 500 million users.
The news has gained traction as it introduces new ways for customers to interact with the tech firm’s expanding digital ecosystem.
The official announcement reads:
Jio, after disrupting the Indian communication industry with affordable data plans and internet, seems ready to dive into the Web3 sector.
The latest collaboration with Aptos reflects the company’s commitment to grow beyond connectivity and cements its status in digital innovation.
Introducing blockchain rewards to the masses
The Jio-Aptos alliance focuses on exploring blockchain-based reward models that could change how Jio’s 500+ customers interact with its mobile products and services.
While details remain scarce, the duo could be working on a system that enables individuals to earn and redeem rewards through blockchain technology.
These incentives could include loyalty points, digital collectibles, or even APT tokens.
The goal is to bolster user participation in Jio’s expanding digital ecosystem through a strong sense of ownership.
Aptos’ role in this partnership
Aptos Labs, with support from the non-profit branch, Aptos Foundation, and the brains of ex-Meta engineers, focuses on creating a developer-friendly and scalable environment for blockchain innovations.
The L1 envisions a world where blockchain powers Web3 adoptions and decentralized applications (dApps) that solve real-world monetary problems.
Apto’s partnership with Reliance Jio is beyond a corporate alliance. It represents a real-world test of cryptos’ mass adoption.
Few blockchain projects have an opportunity to serve over half a billion users.
Thus, the success of Jio’s initiative could see more institutions leveraging blockchain to enhance user experience.
Aptos will offer the telecom giant technical support for its blockchain-based programs to accelerate Web3 adoption.
The APT team said:
APT price outlook
Aptos’ native token exhibited a downward trajectory as the broader market bloodbath outweighed the partnership updates.
APT has lost nearly 5% of its value in the past 24 hours to trade at $3.50.
The 16% decline in daily trading volume confirms substantial selling pressure.
The altcoin mirrors the current market-wide slumps and will likely bounce back on improved sentiments across the cryptocurrency market.
Meanwhile, analysts predict short-term struggles before digital assets break out ahead of Q4 rallies.
Source: https://coinjournal.net/news/indias-telecom-giant-reliance-jio-taps-aptos-to-bring-blockchain-rewards-to-millions/
