Jio Coin
What is Jio Coin?
Jio Coin introduced by Reliance Industries, seeks to revolutionize digital transactions in India utilizing blockchain technology. Supported by Jio, it serves as a utility token for services such as payments, e-commerce, and data storage, fostering financial inclusion and bolstering a tech-driven economy as blockchain adoption expands.
Jio-Coin, an integral to Reliance’s digital evolution, aims at more than 450 million Jio subscribers, aspiring to spearhead cryptocurrency adoption in India.
Reliance’s reputation boosts Jio-Coin’s prospects, sparking enthusiasm and hope in crypto and technology communities.
In Short:
- What is Jio Coin
- How to purchase Jio Coin in INDIA
- Worth of Jio-Coin
- Jio Coin launched on Polygon Network
- Nine important Jio Coin facts
How to purchase Jio Coin In INDIA?
Jio-Coin cannot be bought directly at the moment; instead users can acquire it through the JioSphere browser. First step is to download JioSphere on Android or iOS device, then register with Jio number and explore to collect coins. Upcoming plans could enable Jio-Coin to be transferred and redeemed through the MyJio app or on exchanges such as Koinex and Zebpay.
Worth of Jio-Coin
The official price of Jio-Coin has not been revealed, but rumors indicate it could debut at approximately $0.5 (Rs. 43.30) for each token. Its worth is anticipated to increase as it merges with Jio services, facilitating various features such as mobile recharges, shopping discounts, special access, and transactions at Reliance gas stations.
Jio-Coin launched on Polygon Network
Jio-Coin is created on Polygon, an Indian blockchain network, improving scalability, affordability, and energy efficiency. This partnership enables Jio-Coin to handle substantial transaction volumes securely, showcasing Reliance’s dedication to strong blockchain infrastructure and worldwide sustainability goals.
Polygon’s collaboration enables Jio-Coin to operate in a secure, decentralized setting, serving multiple uses from microtransactions to corporate functions.
This partnership emphasizes Polygon’s growing influence as a blockchain ecosystem in India, enhancing the appeal of its MATIC token.
Nine important Jio-Coin facts
(i). In 2018, a news article indicated that Jio Platforms was forming a group of 50 individuals to work on this token.
(ii). On January 15, Jio revealed its collaboration with Polygon Labs and aims to incorporate blockchain features into its current services. The statement made no reference to Jio-Coin.
(iii). Jio-Coin is created to serve as a reward token for JioSphere web browser users.
(iv). Its launch follows Jio’s partnership with Polygon Labs to enhance its blockchain and Web3 services.
(v). Jio’s reward token cannot be transferred or exchanged.
(vi). Few reports indicate that Jio-Coin may be utilized for services like mobile top-ups or purchasing products available from Jio.
(vii). Jio-Coin Project was led by Akash Ambani.
(viii). Due to India’s strict regulations on cryptocurrencies Its future is unclear in India which impose a 30 percent tax on profits and a 1 percent tax deduction at the source.
(ix). It is possible in the future that reward tokens could be exchanged for currency, as the terms of use state that a UPI-connected bank account is necessary for redemption.
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