Reliance Jio Coin: Billionaire Mukesh Ambani-led Jio Platforms has partnered with web know-how firm Polygon Labs. Social media customers are curiously speaking about its new enterprise, JioCoin. Screenshots are shared on-line. Furthermore, Reliance’s tech subsidiary, Jio Platforms, has partnered with Polygon Labs to convey Web3 and blockchain know-how to India.
“JioCoins are blockchain-based reward tokens that customers can earn by participating with completely different cell or internet-based apps as determined by Jio Platforms Restricted (JPL) utilizing their Indian-based cell numbers,” learn the Reliance’s FAQ part.
Jio Coin is the most recent venture of Reliance Industries and the corporate is bringing blockchain know-how to India, stated a report of “CoinDCX”. Notably, JioCoin’s official worth has not been revealed but. Nevertheless, a number of media studies counsel that it may very well be valued round Rs 43 ($0.50) per token.
ALSO READ: Adani To Partner Mayo Clinic To Establish Affordable, World Class Healthcare Facilities
Reliance Jio Coin: How It Is Different From A Traditional Cryptocurrency?
Jio Coin do share some similarities with cryptocurrencies, nevertheless it can’t be termed as a standard cryptocurrency. JioCoin is extra like a rewards program or digital loyalty factors, quite than a standard cryptocurrency like Bitcoin or Ethereum.
JioCoin is principally an incentive-based program that rewards the customers for actively collaborating within the Jio ecosystem. By utilizing Jio’s numerous providers, reminiscent of shopping with JioSphere, streaming on JioCinema, or purchasing on JioMart, people can earn JioCoins, claims a number of media studies.
Traditional cryptocurrencies, like Bitcoin and different decentralized tokens, function on open blockchain networks as funding property. Nevertheless, JioCoin serves as a buyer retention instrument. Managed by Reliance Jio, this program rewards customers for participating with Jio’s providers, reminiscent of purchasing, streaming, or shopping for merchandise on-line.
ALSO READ: What is the price of a Jio Coin? How can you earn $0.50? – Mukesh Ambani’s Big Plan
