Reliance Jio Rumoured to Create its Own Cryptocurrency Called JioCoin

Telecom operator Reliance Jio is rumoured to step into the cryptocurrency game with its own digital currency called JioCoin. A new report says that the Mukesh Ambani-led telco will launch JioCoin very soon. It is also noted that Akash Ambani will be leading the JioCoin project, and the telco is planning to hire 50 employees to work on this project initially.

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As per a report from Livemint, Reliance Jio is planning to build a 50-member team of young professionals to work in this JioCoin project. Also, this team will be working on blockchain technology which can also be used to develop other applications such as supply management logistics and smart contracts.

“The company plans to hire 50 young professionals with an average age of 25 years for Akash Ambani to lead. There are multiple applications of blockchain (for the company). The team would work on various blockchain products,” a person familiar with the company’s plans said to Livemint.

Cryptocurrencies have become a lot popular in 2017, and we have just entered 2018, but already there’s a lot of buzz going on the web about new cryptocurrencies coming into play this year. And Reliance Jio seems to be interested in steeping its foot into the cryptocurrency game.

One of the most popular applications of Blockchain technology is cryptocurrency. A blockchain facilitates secure online transactions, and it’s a distributed digital leader to record transactions across many computers so that the particular record cannot be changed from the past without any change of all subsequent blocks and the collusion of the network. And the information shared on the blockchain can be accessed anywhere because the data is shared in the cloud.

“One (application) is cryptocurrency. We can deploy smart contracts. It can be used in supply chain management logistics. Loyalty points could altogether be based on JioCoin,” the same person quoted to the publication. He even stated that the info is still in the proposal stage.

Reliance Jio also aspires to get into the Internet of Things (IoT). Blockchain technology would come in handy there,” the person said. We approached Jio on the same, but the company is yet to respond.

The popular cryptocurrency of 2017 everyone is aware of is Bitcoin. At a rapid growth, Bitcoin was the talk of the world, and in the process, it even attracted normal citizens to become investors on the same. Bitcoin value even touched $19,000 before Christmas Day, but currently, it’s hovering around $13,500.

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47 Comments on "Reliance Jio Rumoured to Create its Own Cryptocurrency Called JioCoin"

 

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S. Santra Bally-Howrah,wb
January 12, 2018 7:26 pm 7:26 PM

Jio 2g ..No internet or dead internet.. it’s like lucky hour .. to get decent internet speed. Now jio 2g is very useful for brief calling and sms.
Paid them money.. and now cannot use it. 3g era was better.

SonuSB
January 13, 2018 5:10 am 5:10 AM

Use the service whose network and coverage is good in your area. Who told you to use jio if it is bad for you.

S .Santra Bally-Howrah,wb
January 13, 2018 1:43 pm 1:43 PM

Really Appreciated. Great suggestion. As I did not know that simple option. But what for the service detoriation? of jio. We spend every penny the asked for. Then the have to provide service to customer.

S .Santra Bally-Howrah,wb
January 13, 2018 1:41 pm 1:41 PM

Really Appreciated. Great suggestion. As I did not know that simple option. But what for the service decoration? of jio. We spend every penny the asked for. Then the have to provide service to customer.

SonuSB
January 14, 2018 8:16 pm 8:16 PM

Then why did u cry here and ask others to suggest you dude.. Do complaint on pgportal. And if you don’t konw how to apply simple suggestions then will surely help you dude..

Rinu
January 12, 2018 3:59 pm 3:59 PM

Another fraud business from India’s biggest fraud company.

Ratnesh
January 12, 2018 9:24 am 9:24 AM

Ambanis should stick to their role of dealers.Any technical startup by ambanis is bound to fail like bigflix bigmaps, etc. Reliance is company of banias and don’t have a single library or R&D department in any of their sprawling campuses.

Airtel User
January 13, 2018 12:46 am 12:46 AM

Tea stall owners and recharge shop owners have R&D facilities.

Kiku
January 12, 2018 7:40 pm 7:40 PM

They should focus on Jio first.

Persona Non Grata
January 12, 2018 5:49 pm 5:49 PM

so you are fortuneteller huh! something failed does not mean people stop trying…people like you should be kept in museum… so world can benefit from your sheer stupidity of outlook towards any venture

Airtel User
January 13, 2018 12:47 am 12:47 AM

He seems to be recharge shop owner whose ranting here since people are recharging online. Just saying no offence.

tri_vis
January 13, 2018 12:21 pm 12:21 PM

I don’t think there are many shop owners whose sole business is recharges. As most companies offer only 2% commission on recharges, it’s difficult to survive . IMO, most reseller having another business in there shop and offers recharges as add on facility to there customers.
May be the case, may not be

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