Indian Telecom Jio Reveals Blockchain Network for 330 Million Customers

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This announcement was made by Reliance Chairman Mukesh Ambani at the company's Annual General Meeting (AGM) where he revealed details of the Jio Fiber launch.

Ambani also claimed that Jio is signing up an average of 10 million new customers every month and, is looking to hit the 500 million subscriber mark in the near future. "The potential for growth is enormous, and 500 Mn mark is soon to be achieved", he added.

But shares of telecom majors Bharti Airtel fell 4% and Vodafone Idea slid nearly 5% as the announcements spurred worries of a repeat of what happened just three years ago when Reliance's Jio burst on to the scene.

Shares in Dish TV India were also down.

Reliance Jio and Microsoft will partner to set up one of the largest networks of world-class data centers across the country. Jio said the set-top-box supports all popular gaming consoles and controllers. At its previous AGM, Reliance had announced its Jio GigaFiber FTTH service, and today, at its 42nd AGM, the company has announced the commercial launch date of Reliance Jio Fiber.

Further, Ambani said that delivering immersive content to hundreds of millions of users requires a well-integrated solution spanning connectivity, data storage and real-time computing. Ambani also stated that Jio GigaFiber consumers will have access to premium over-the-top services. Which ones? Well, we don't know yet.

In his speech titled 'New Reliance for a New India, ' Mr. Ambani said, "On the strength of our existing and new growth engines, I am confident that we can grow this by 15% annually over the next five years".

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Jio's pan India Narrowband Internet of THings (NBIoT) will launch on 1 January 2020 residential, industrial and public devices. Reliance Jio users will be able to make unlimited worldwide calls with the new Jio global Calling pack. JIOFIBER customers who opt for the annual plans, called JIO-FOREVER plans, will get an HD OR 4K LED Television and a 4K set-top box free.

Of all the announcements, the Jio Blockchain turns out to be major news.

"On Cable TV, RIL has opened a platform for collaboration with LCOs (Local Cable Operators) rather than announcing any disruptive pricing", the brokerage report said.

On Monday, addressing Reliance shareholders via a recorded video message, Microsoft's Indian-born Chief Executive Satya Nadella said: "Together, we will offer comprehensive technology solutions - from compute and storage, to connectivity and productivity - to small and medium businesses everywhere in the country".

And, like Jio undercut its competition's prices when its 4G network went live, its broadband services plans to do the same with prices starting at ₹700 per month and keeping voice calls free forever. Moreover, Reliance Jio is working with leading game publishers, including Gameloft, Tencent, and Microsoft.

"Data is wealth and Indian wealth must remain in India", called upon Mukesh Ambani. He also added that the company has already invested in 14 startups that complement Jio's services.

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