is Reliance Jio plans to launch its own Cryptocurrency called 'JioCoin' ..??

After disrupting the telecom sector with its free offers and hyper-competitive tariffs, Reliance Jio Info comm Ltd plans to create its own cyptocurrency,called  JioCoin.

The company plans to hire 50 young professionals with average age of 25 years for Akash Ambani to lead. There are multiple applications of blockchain (for the company). The team would work on various blockchain products,” a person familiar with the development said on condition of anonymity.

Blockchain is a digital ledger for storing data including, but not limited to, financial transactions. In simple terms, blockchain decentralizes information without it being copied. The information is held on blockchain through a 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.

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. 

Bitcoin and other cryptocurrencies have come under the scanner of governments across the world as their soaring prices attracted speculators and unsophisticated retail investors in droves. On Thursday, Bitcoin dropped as much as 12% to $12,801, its lowest since Christmas day, as South Korea’s justice minister reiterated his proposal to ban local cryptocurrency exchanges, Bloomberg reported.
source:internet

Dowload Unocoin Bitcoin Wallet India App and start making profit with bitcoin