Reliance Jio Plans To Introduce ‘Jio Coin’ After Price Surge in Bitcoin
Telecom gaint Reliance Jio plans to introduce its own cryptocurrency (bitcoin alike) under the name Jio Coin.On account of high price rise, Government all over the world are keeping an eye on cryptocurrency (bitcoin).
Akash Ambani who is heading Jio Coin project is planning to employ 50 professionals to work on blockchain technology, according to a news reported in Hindustan times
Sources also told that Reliance Jio wants to enter into the Internet of Things (IoT). IoT is a network of devices such as smartphones, wearable devices, home appliances and vehicles, connected to the internet, which enables these objects to connect and exchange data.
It may be noted that Government of India had issued warning against using cryptocurrencies. Union Finance Minister, Mr. Arun Jaitley said that government does not consider it as legal tender.
However, on Thursday, the value of Bitcoin came down to $12,801 after Justice Minister of South Korea reiterated his suggestion to ban local exchanges of cryptocurrency.