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.

reliance-jio-160million-subscriber-base

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.

Read more on:

Chakri is a go-to guy for your next smartphone recommendation. Back in his engineering days, he used to play with smartphones by installing custom ROMs and that passion got him into the tech industry. He still goes nuts about a smartphone knocking his door for review. Currently managing everything at Telecom Talk, Chakri is trying to master PUBG Mobile in his free time.

46
Leave a Reply

avatar
8 Comment threads
38 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
30 Comment authors
SonuSBDipjyoti RoyS .Santra Bally-Howrah,wbtri_visSpider ( kolkata) Recent comment authors
newest oldest most voted
S. Santra Bally-Howrah,wb
S. Santra Bally-Howrah,wb

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
SonuSB

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
S .Santra Bally-Howrah,wb

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
SonuSB

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..

S .Santra Bally-Howrah,wb
S .Santra Bally-Howrah,wb

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.

Rinu
Rinu

Another fraud business from India’s biggest fraud company.

Recent Posts

Dish TV Follows on Footsteps of Sun Direct, Offers Unlimited FTA Channels in Base Pack of Rs 130

There have been a handful of DTH providers, namely Tata Sky and Sun Direct which have removed Network Capacity Fess...

Vodafone Idea Plans to Sell its Mobile Towers and Optical Fibre Assets for Rs 20,000 Crore: Report

Vodafone Idea is likely to mop up about Rs 20,000 crore from its proposed stake sale in mobile tower firm...

Best DTH Provider After New Trai Mandate: Tata Sky, Airtel Digital TV, D2h or Sun Direct?

The new direction regarding the prices in the TV industry passed by Trai last year took the DTH industry by...