Saturday, January 13, 2018

Reliance Jio plans to invade Cryptocurrency World with JioCoin

Reliance-Jio-plans-to-invade-Cryptocurrency-World-with-JioCoin
Reliance Jio plans to invade Cryptocurrency World with Jio Coin

Reliance Jio plans to invade Cryptocurrency World with JioCoin


By keeping the past in mind our world had passed many eras of the technology revolution. In my childhood days we had a telephone, today we call it vintage piece, with which we had to stick at one corner while talking on it and now we can cross many destinations while talking on the phone. We have seen this kind of revolution in every field, but the field of technology and gadgets leaped well.



The new revolution started the last year of 2017 when Bitcoin, the decentralized virtual currency, alarmed the paper money. The world came to know about the existence of virtual currency that we cannot see it or feel it, but can pay with.


After distorting the telecom sector with it's drooling offers, Reliance Jio Infocomm Ltd planning to introduce its own Cryptocurrency, JioCoin.


The company plans to build a team of 50 members who are professionally capable to work on blockchain technology so it can be used to develop applications which can work in the field of smart contracts and supply chain management logistics. Akash Ambani will be leading this project. As being the gradual process, the company aims to hire 50 young professionals with an average age of 25. The team will develop and work on various blockchain products.


The blockchain is a digital journal for storing data including financial transaction. In other words, blockchain decentralizes the financial data or information without being copied. The given information is stored in blockchain via a shared database which can be accessed on a real-time basis. This information is not stored in any physical form but on cloud, which gives anyone unlimited access to store the data.  Cryptocurrency is the most prevalent application of technology and Reliance planning to create its own milestone called JioCoin. Smart contracts can be deployed with ease including supply chain management logistics.


An email is sent to Reliance Jio for the confirmation, still unanswered.

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