JioCoin: Jio Cryptocurrency
Reliance Jio After Creating a Lot of Hype in the Telecom Sector with its Free Offers & Recharge Plans, Reliance Jio Plans to Create its own Cryptocurrency, JioCoin. Akash Ambani, Son of Mukesh Ambani to Head the JioCoin (Jio Cryptocurrency) Project.
The Company Plans to Hire 50 Young Professionals with an Average Age of 25 Years for Akash Ambani to Lead. The 50-Member Team of Young Professionals to Work on Blockchain Technology. Reliance Jio also Aspires to Get int the Internet of Things (IoT). Blockchain Technology would come in Handy.
The Internet of Things (IoT) is a Network of Devices such as Smartphones, Wearable Devices, Vehicles. All these Devices Connected to the Internet, which Enables these Devices to Connect and Exchange Data.
Reliance Jio to Launch its Own Cryptocurrency JioCoin
Reliance Jio Joins KFC, Burger King & others, Warren Buffett reiterates his concerns about investing in Bitcoin and other Cryptocurrencies. After Burger King, Kodak, Telegram, India’s 4th Largest Telecom Giant Reliance Jio to Launch its own Cryptocurrency as JioCoin.
The Company is Reportedly Interested in Developing Blockchain Technology to aid the Development of Smart Contacts & Cryptocurrency Payment-Enabled Supply Chains. The Blockchain is a Digital Ledger that Works as a Book-Keeper for Cryptocurrencies.
Meanwhile, the Government has Warned the Public against Investing in Cryptocurrencies. On Thursday, Bitcoin dropped almost 12 percent to $12,801, its Lowest since Christmas Day, as South Korea’s Minister reiterated his Proposal to Ban Local Cryptocurrency Exchanges.
However, The Finance Minister has Warned that Bitcoins (or) such Cryptocurrencies are not Legal Tenders & those indulging in such Transactions are doing it at their Own Risk. However, RBI has also Clarified that it has not given any License/ Authorization to any Entity/ Company to Operate such Schemes or Deal with Bitcoin or any Virtual Currency.