RIL’s JFS Boosts India’s Web3
Reliance’s entry point into India’s Web3 market will be Ambani’s Jio Financial Services (JFS).
Jio Financial Service
RIL will provide management services for digital assets via JFS
Bitcoin, non-fungible tokens, CBDCs, and the metaverse are all components of Web 3
traditional servers, information saved on the blockchain is broken up into smaller pieces and distributed around the network
Central Bank Digital Currency
A central bank electronic currency is any fiat money that is supported by blockchain networks
india’s Web3 is a decentralized platform that doesn’t need approval from centralized authorities,.
Characteristics of Web3 in Financial Services
Web3, a platform based on Blockchain, makes data transferable and transparent
Financial Web3 apps can run on either blockchain, decentralized peer-to-peer networks
Decentralized management and governance
An unchangeable ledger allows for the decentralized management and control of data.