Science

JioCoin: Reliance Jio Planning To Launch Its Own Cryptocurrency

JioCoin: Reliance Jio Planning To Launch Its Own Cryptocurrency

He further said Reliance aspires to get into Internet of Things (IoT) and Blockchain technology to disrupt the global market under various sectors. The company's new venture will be headed by Mukesh Ambani's son Akash Ambani.

Mukesh Ambani-owned Reliance Jio Infocomm plans to launch its own cryptocurrency called, JioCoin, Mint reported citing an anonymous source Cryptocurrency has been in the news for the past one and half month as Bitcoin, the most traded among them, hit around $19,000, however, fell lately to $13,000.

The company also plans to develop blockchain applications such as smart contracts and supply chain management logistics. Working on the applicability of private and permissioned-blockchain solutions, the company is considering to rope in all the three technologies together in other Reliance companies too. "The team would work on various blockchain products", a person familiar with the matter was quoted as saying to the publication.

Blockchain is a digital laser, which stores data, includes financial transactions, but it is not limited. In simple terms, blockchain decentralizes information without it being copied. The information held on blockchain can be accessed on a real-time basis. This Database is Not Stored on the Physical Serves but on the Cloud that which Makes it Easy to Store an Unlimited Data. While blockchain technology has many aspects, cryptocurrency is one of its most popular applications.

Cindy Crawford recreates her famous Pepsi Super Bowl ad 26 years later
Pepsi today unveiled this year's global creative campaign , titled " Pepsi Generations" and a return of Crawford during the game. The 51 year old model recently filmed a recreation of the famous commercial, which will debut at Super Bowl 52 on February 4th.

It may be noted that Government of India had issued warning against using cryptocurrencies.

Significantly, the Indian government has cautioned against cryptocurrencies, stating that virtual currencies were not backed by assets and posed risks such as money laundering.

Bitcoin and other cryptocurrencies have come under the scanner of governments across the world as their soaring prices attracted speculators and unsophisticated retail investors in droves. Union Finance Minister, Mr. Arun Jaitley said that government does not consider it as legal tender. Jaitley has even said that cryptocurrency is not legalised as of now, while the RBI has made it clear multiple 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.


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