Jio's ambitions are not limited exclusively to just mobile internet. After investing more than 17 billion on Jio network, Mukesh Ambani is now planning to invest a whole lot of money on creating its own cryptocurrency, JioCoin.
His son, Akash Ambani is leading the JioCoin project and has already started working towards making a team of 50 blockchain experts. The team can also be used further to develop apps like smart contracts or supply chain management logistics.
“Company is planning to hire 50 young professionals with an average age of 25 years to be led by Akash Ambani. There are multiple applications of blockchain (for the company). The team would work on various blockchain products,” a resource confirmed. The resource also added, “One of the applications is cryptocurrency. We can deploy smart contracts. It can be used in supply chain management logistics. Loyalty points could altogether be based on JioCoin in proposal stage”.
Cryptocurrency has attracted many digital leaders hitherto. Being the digital leader of India, Reliance Jio might also want to try in this area by creating its own version of cryptocurrency, called Jio Coin.
However, the email sent to Reliance Jio seeking the authenticity of this new development has remained unanswered.
If this is true, I think the future is bright. What are your thoughts?