Reliance Next Dream Project May be
Jio Coin the next Bitcoin of India
The report comes at a time when Bitcoin has taken a major hit worldwide after
South Korea repeats a proposed ban on such currency, fueling concern that a
crack-down will occure on one of the world's biggest sources of demand the Bitcoin.
According to a our source, Reliance Jio Info comm is drawing up plans to
create its own cryptocurrency, JIO COIN. The new bet, a Mint report claims,
is the mandate of a 50-member team working on blockchain technology, which is
being helmed by Ambani's elder son Akash Ambani.
Back in home, the finance minister, Arun Jaitley and Reserve Bank of India (RBI)
have warned Bitcoin users on the risks such cryptocurrencies carry. Arun Jaitley has
even said that cryptocurrency is not legalised as of now, while the RBI has made
it clear several times that the creation, trading or usage of all virtual currencies,
including Bitcoins, as a medium for payment are not authorised by any central bank or
monetary authority.
While Jio has not commented on the move, the report claimed
that Ambani's plan to tap into blockchain technology for smart
contracts was still in the "proposed stage".
Thanks for Visiting my Blog