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Reliance Jio planning its own cryptocurrency called JioCoin

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Reliance Jio Infocomm Ltd plans to create its own cyptocurrency, JioCoin. With Mukesh Ambani’s elder son Akash Ambani leading the JioCoin project, Reliance Jio plans to build a 50-member team of young professionals to work on blockchain technology, which can also be used to develop applications such as smart contracts and supply chain management logistics. Read the full news here, http://www.bgr.in/news/reliance-jio-to-develop-its-own-cryptocurrency-jiocoin-report/

This is a great news for crypto investors in India. As we already know, Indian govt. is trying to ban Bitcoin in India and Reserve Bank of India hinted a possible ban on cryptocurrencies. If people like Ambani makes a step into the crypto then, government would support it too. Furthermore, If they launch Jio coin then, all skeptic investors from India would get attracted to the cryptocurrencies. More people would enter crypto- world because Ambani's "Jio" trademark itself has gained trust over the past years. Let's hope for the best.

 

Edited by Kurian

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10 hours ago, UltraChief said:

Dont count on this. I have read the news and have checked the credibility of the source. I would at first stance declare this as FUD. However since its crypto - its possible. But it wont be worth investing.

It is not confirmed yet but if this is going to happen, it would be a big success. Ambani is one of the 50 richest men in the world.. He is very influential. Their supermarket and textiles chain all over India itself enough for this to become a success.. What if they accept cryptocurrencies in all their stores?? Supermarket, petrol pumps, textiles, telecom service and so on ... 

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17 minutes ago, Kurian said:

It is not confirmed yet but if this is going to happen, it would be a big success. Ambani is one of the 50 richest men in the world.. He is very influential. Their supermarket and textiles chain all over India itself enough for this to become a success.. What if they accept cryptocurrencies in all their stores?? Supermarket, petrol pumps, textiles, telecom service and so on ... 

I know about Ambani but the question here is twofold

1. It is not being done by Ambani brothers - rather its by their kids. I dont know if they are trustworthy yet like their parents.

2.Crypto is still a gray area in India. But there is hope for betterment.

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15 hours ago, UltraChief said:

I know about Ambani but the question here is twofold

1. It is not being done by Ambani brothers - rather its by their kids. I dont know if they are trustworthy yet like their parents.

2.Crypto is still a gray area in India. But there is hope for betterment.

  1. Mukesh Ambani's Akash ambani is a well known businessman. He is the chief of revolutionary strategy of Jio (not the coin, the 4G service provider). He is also the chairman and managing director of Reliance Industries Limited (RIL). So, he already gained trust as a chief strategist behind Jio telecom service. Akash ambani leading the project doesn't mean that his father has no involvement in this.
  2. It is a fact that Crypto is still not accepted by Indian government. But, having sound influence in the government. Ambani definitely could do something about it.

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4 hours ago, Kurian said:
  1. Mukesh Ambani's Akash ambani is a well known businessman. He is the chief of revolutionary strategy of Jio (not the coin, the 4G service provider). He is also the chairman and managing director of Reliance Industries Limited (RIL). So, he already gained trust as a chief strategist behind Jio telecom service. Akash ambani leading the project doesn't mean that his father has no involvement in this.
  2. It is a fact that Crypto is still not accepted by Indian government. But, having sound influence in the government. Ambani definitely could do something about it.

Definitely a good news for you guys. And yes, if its coming from a very influential person, that might make a difference. Nothing to lose if you try it anyways. Especially if they distribute it via airdrop :v

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