India’s very own telecom operator Reliance Jio is planning to launch their very own cryptocurrency. The name for this cryptocurrency is Jio Coin, and this will help the customers to make digital payments easier. Last year we saw an array of products like the Jio phone, JioFi and now this soon to launch cryptocurrency will make the transaction for these services easier. This cryptocurrency will be based on the Blockchain technology. In case of India, after Laxmi coin and Indicoin, Jio coin will be India’s third very own cryptocurrency.
About Jio Coin Cryptocurrency
Ambani’s son believes in the future and seeing as cryptocurrency is the future, this initiative makes sense. A group of 55 individuals with experience about Blockchain has been assembled and are currently working towards the functioning of this new cryptocurrency. In future many new Jio products are likely to be launched and to purchase those products, Jio coins can be used. They may come up with offers to promote this new coin service. Now South Korea and China have already banned coin trading in their country, so Reliance Jio is most likely to take permission from the government for this new launch.
Akash Ambani will be the leader of this new project. This is the perfect time for a cryptocurrency launch as it was seen ripple to reach the second spot in cryptocurrency ranking list. Ripple is a low-cost cryptocurrency so a new launch with similar price rates can also be expected to gain profit for the company. The reason behind’s ripple’s success is the investment of Asian countries with India having the most number of investors. Now considering all this and also the trust Indian people have on Reliance Jio, Jio’s cryptocurrency can be expected to be a success. Many people from India are unaware of Internet money, so this might also be a chance for them to understand how cryptocurrency works and how it can be useful to them.
Jio Coin Launch Date
Currently, there is no official date, but Livemint news portal has indeed confirmed about this new cryptocurrency. Any other update about this will probably be available on Jio’s official website jio.com. Additionally, regarding the platform for Jio coin, Tangle Technology or Blockchain is the given choices. As per some news though, Blockchain will be Jio Coin’s official choice for the platform.
Jio Coin Price
It is reported that each coin would cost somewhat less than Rs 64, which is equivalent to 1 USD. Jio is also expected to see a rise in the share market after the cryptocurrency’s launch.
How to Buy Jio Coin?
As the Jio Coin is not yet official as a cryptocurrency, so there is no way for anyone to buy Jio Coin as of now. However, we can expect Jio’s official website to receive an update soon regarding this advancement. Most probably the customers would be able to purchase coin’s from jio.com.