Topic: Reliance Jio plans to launch its own Cryptocurrency 'JioCoin' - page 2. (Read 439 times)
I don't know or even predict whether it will prove to be a good investment or not but there is one thing for sure. This will revolutionize the whole nation point of view towards cryptocurrencies. Even the government themselves will take cryptocurrencies as a legal means of raising money. If jio coin comes there is a 100% surity that bitcoin will never become illegal in the country.
RBI own coin Lakshmi Coin and now in mid of confusion for general public now regarding leagility Jio is coming up with their own coin it seems crypto is legal in india as per inside sources
Most probably shitcoin
As I stated about Jio coins till few days ago arun jetly was saying bitcion is fake ponzi scheme , now since his boss ambani will start their cryptocurrency suddenly it will be symbol of digital India , blah blah !!! Feku Govt, Disgusting govt
Mukesh Ambani’s elder son Akash Ambani will lead the project
Relaince Jio’s next big idea of disruption is cryptocurrency and what’s more, the company plans to create its own digital currency JioCoin, reports Mint. It is possible the move might have been triggered by the incredible rise in the value of Bitcoin over the past few weeks, where the cryptocurrency touched a high of around $17,000, before falling down to the $12,000-odd range recently. It has created a new breed of millionaires and it seems like Mukesh Ambani-led Reliance group does not want to miss out on the action.
To mine the new digital currency, the company has chosen young Akash Ambani, the elder son of Mukesh to lead the project with a team of 50 professionals working under him to build the blockchain and create the stock of the currency. The blockchain technology, once developed, may be put to other uses, like supply chain logistics and so on.
For the uninitiated, blockchain 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.
Reliance Jio is hoping to use the work by the new team to get into the IoT (Internet of Things) space. The technology has gained a lot of traction in recent times with devices like home speakers, smart watches and even the in-car infotainment in the automobile sector are all part of the IoT segment only. It is being projected that the blockchains developed could add a layer of security to the data exchanged among these IoT devices.
The flip side of the cryptocurrency is that it is not an officially recognized instrument and is not backed by any assets whatsoever. Most governments do not recognize these digital currency, though there are transactions being carried online, particularly in the dark web, where these currencies are used to buy all kinds of stuff. There are exchanges which trade in these currencies and a few countries in Europe have permitted Bitcoin and a couple of other digital currencies to be sold to the public through the post offices paying for them in Euros.
The Indian government has not yet recognised cryptocurrencies 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 setup a committee to look into the various aspects of cryptocurrencies and submit a report. Even in a more developed economy like South Korea, where there is practically a craze among the common public to buy Bitcoins, the justice department is out to ban local cryptocurrency exchanges.
https://www.thenewsminute.com/article/reliance-jio-plans-launch-its-own-cryptocurrency-jiocoin-74658
Relaince Jio’s next big idea of disruption is cryptocurrency and what’s more, the company plans to create its own digital currency JioCoin, reports Mint. It is possible the move might have been triggered by the incredible rise in the value of Bitcoin over the past few weeks, where the cryptocurrency touched a high of around $17,000, before falling down to the $12,000-odd range recently. It has created a new breed of millionaires and it seems like Mukesh Ambani-led Reliance group does not want to miss out on the action.
To mine the new digital currency, the company has chosen young Akash Ambani, the elder son of Mukesh to lead the project with a team of 50 professionals working under him to build the blockchain and create the stock of the currency. The blockchain technology, once developed, may be put to other uses, like supply chain logistics and so on.
For the uninitiated, blockchain 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.
Reliance Jio is hoping to use the work by the new team to get into the IoT (Internet of Things) space. The technology has gained a lot of traction in recent times with devices like home speakers, smart watches and even the in-car infotainment in the automobile sector are all part of the IoT segment only. It is being projected that the blockchains developed could add a layer of security to the data exchanged among these IoT devices.
The flip side of the cryptocurrency is that it is not an officially recognized instrument and is not backed by any assets whatsoever. Most governments do not recognize these digital currency, though there are transactions being carried online, particularly in the dark web, where these currencies are used to buy all kinds of stuff. There are exchanges which trade in these currencies and a few countries in Europe have permitted Bitcoin and a couple of other digital currencies to be sold to the public through the post offices paying for them in Euros.
The Indian government has not yet recognised cryptocurrencies 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 setup a committee to look into the various aspects of cryptocurrencies and submit a report. Even in a more developed economy like South Korea, where there is practically a craze among the common public to buy Bitcoins, the justice department is out to ban local cryptocurrency exchanges.
https://www.thenewsminute.com/article/reliance-jio-plans-launch-its-own-cryptocurrency-jiocoin-74658
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