Reliance Jio planning own crypto-currency called JioCoin

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Jio coin

Reliance JioCoin

As we can see that the crypto currency become very much popular nowadays, especially when we can talk about bitcoin and how much its value raised.

Now Mukesh Ambani going to start the game of crypto currency.

Yes Jio going to launch their own crypto currency.

Telecom sector with its free offers and hyper-competitive tariffs, Reliance Jio Infocomm Ltd plans to create its own cryptocurrency, JioCoin.

With Mukesh Ambani’s elder son Akash Ambani leading the JioCoin project, Reliance Jio plans to build a 50-member team of young professionals to work on block chain technology which is very cool and , which can also be used to develop applications such as smart contracts and supply chain management logistics.

The team would work on various block chain products,” a person familiar with the development said on condition of anonymity.

block chain is basically a digital ledger which can store data, usually on the cloud and is a closed chain and as the links keep getting built, those building the chains get rewarded with the digital coins that can be traded or en-cashed by the owner. This is how all the digital currencies worldwide work and Bitcoin has been the most popular of them all.

The Indian government has not yet recognized crypto currencies and the only step the Indian government has taken, as announced by the country’s Finance Minister in the Indian parliament is that the government has set up a committee to look into the various aspects of crypto currencies and submit a report.

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