Reliance Jio is Planning Their Own Cryptocurrency Named JioCoin

Cryptocurrency JioCoin

Reliance Jio is Planning Their Own Cryptocurrency Named JioCoin

The Reliance Industries is Going to Hire 50 young Professionals For this JioCoin Project that with an average age of 25 Years for the Akash Ambani to Lead this Project. In straightforward terms, blockchain decentralizes data without it being duplicated. Well, as per a new report by Livemint, Indian telecom operator Reliance Jio wants to step into the world of cryptocurrency by introducing its own digital currency called JioCoin. However, Reliance Jio did not give any response on this issue. The Information that is Held on the Block-Chain that through an Shared Database which Can be Accessed on a Real-time Basis. This database is not stored on physical servers but on the cloud, which makes it easy to store unlimited data. He further said Reliance aspires to get into Internet of Things (IoT) and Blockchain technology to disrupt the global market under various sectors. Working on the applicability of private and permissioned-blockchain solutions, the company is considering to rope in all the three technologies together in other Reliance companies too.

"One application is cryptocurrency", the source said. We can deploy smart contracts.

Blockchain technology can also be used to develop applications like supply-chain management logistics. "Loyalty points could altogether be based on JioCoin", the person said, adding that it was now in the proposal stage.

Launching its own cryptocurrency JioCoin is being seen as another attempt to bolster the JioMoney business of the Jio ecosystem, while also enhancing users' consumability on Jio offerings.

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USA -based Delta, Spanish clothing chain Zara and US medical device maker Medtronic were targeted, the Liberty Times reported . In recent weeks, Taiwan has reported increased incursions into its airspace by military planes from China.

IoT is a system of gadgets, such as, Smartphones, wearable gadgets, home machines and vehicles, associated with the web, which empowers these articles to interface and trade information.

Significantly, Union finance minister Arun Jaitley recently stated in Rajya Sabha that Bitcoins or such crypto-currencies are not legal tender and those indulging in such transactions are doing it at their own risk.

"A committee under the chairmanship of secretary, department of economic affairs, is deliberating over all issues related to cryptocurrencies to propose specific actions to be taken", Jaitley said while speaking in the upper house. There were reports that people who couldn't convert their money use this channel to launder their illegal money and it could have been one of the reasons for sudden rise in the value of bitcoins.

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