Reliance Jio has reportedly launched JioCoin on the Polygon network. But Mukesk Ambani led Reliance Jio company officially has not yet announced yet about the digital coin. The launched of the coin has sparked as discussion in the social media. So, it began to trend.
An Social media user Bitinning CEO Kashif Raza has also shared about the launched of Jiocoin. He stated, “Jiocoin wallet is LIVE!!! Yes, yes, this is an unbelievable update! This is real… it’s happening! You can accumulate JioCoins in a Web3 Wallet built on Polygon (A Public Blockchain).”
Many social media user stated that the token integrated in JioSphere, which Jio’s web browser and rewards users for browsing online.
Another user Crypto India stated, “Reliance Jio launches Jiocoin; a token on Polygon blockchain that users can earn as rewards on JioSphere browser. Note: it is a developing story and not to be taken as confirmed as there is no official announcement from Jio yet.”
What is JioCoin?
JioCoin, a digital token issued on Polygon designed to reward users surfing the internet via JioSphere browser.
It is not a stable coin yet and also not redeemable or transferable yet.
This development comes after Jio recently collaborate with Polygons Labs to boost its blockchain and Web3 offerings. However, Jio led by Mukhesh Ambani has not yet confirmed or announced about the Jiocoin.
JioCoin is Reliance Industries’ new step into cryptocurrencies. This digital currency, backed by Mukesh Ambani’s Jio, intends to facilitate digital transactions in India through the use of blockchain technology. JioCoin, designed as a utility coin, will be used to support Jio services like as payments, online shopping, and data storage. As India adopts blockchain technology, JioCoin viewed as a significant step toward increasing financial access and promoting a technology-driven economy.
Uses of JioCoin
According to reports, Reliance Jio has thousands of enterprises that interact with one another, and the coin might become the money of the Jio network.
In the future, users will be able to redeem Jiocoins earned at Jiosphere at Reliance Gas stations and recharge their phone numbers using Jiocoins.
Through Jiocoins, Reliance conducts the world’s largest reward program.
Jiocoins allow Reliance to compete against Google Chrome, Brave Browser, and Internet Explorer.
Jio and Polygon collaboration
Reliance Industries is the largest companies in India. It has a history of industry disruption. Jio Platforms, Reliance Industries’ technology arm, has teamed with Polygon Labs, the team behind Polygon Protocols, to deliver Web3 and blockchain services in India. This collaboration would enable Jio customers to benefit from Web3 features such as increased privacy and control over their personal data while accessing new and innovative services.
The collaboration will also add Web3 capabilities to Jio’s existing apps and services, leveraging Polygon’s superior blockchain solutions to develop new Web3 experiences for Jio’s 450 million+ customers. Blockchain, smart contracts, digital assets such as cryptocurrency, central bank digital currencies (CBDCs), and NFTs are all examples of web3 technology.
This collaboration is noteworthy since Polygon Labs is a well-known player in the blockchain and cryptocurrency area. Potentially opening the door for Jio’s entry into the crypto market. Kiran Thomas, CEO of Jio Platforms, stated, “Partnering with Polygon Labs is an important step in Jio’s digital journey. We’re delighted to explore Web3’s boundless possibilities and provide excellent digital experiences to our users.”
FAQ
Is Jio has a wallet?
Yes, Jio has a wallet.
What is the price of JioCoins INR?
Till now the JioCoin is not in Redeemable or transferable stage. So, it is free of cost.
Is JioCoin Launched?
Reliance has not officially announced of the launched of JioCoin. So, it is not already sure that the JioCoin has launched.
