Cryptocurrencies have been facing a constant backlash by the government of India that has questioned its authenticity and illegal activities associated with transactions made via crypto. Despite maintaining a robust and transparent digital ledger accessible to all, the government fails to see potential in the cryptocurrencies.
However, Mukesh Ambani has displayed his interest and support in favor of blockchain technology several times despite the government’s rejection of cryptocurrency.
According to reports (1), Mukesh Ambani (2) and his son Akash (3) were in discussion about creating their own cryptocurrency Reliance Jio Coin. However, there has been no official confirmation regarding the same from the company by far.
Note: Read the latest Bitcoin News today at Coinnounce.
Reliance Jio Coin – Should it be launched in an unfriendly crypto nation?
Reliance Jio’s (4) attempt at foraying into the crypto market at this time serves as a risky attempt for both the potential buyers and the heads of the crypto venture attempt. It might serve significantly to the masses once RBI loses the case against cryptocurrency implementation in India, and our country is declared as a crypto-friendly nation.
However, that is a long way ahead. The ultimate question that has left the entire nation confused is if it is a wise decision to launch their own cryptocurrency Reliance Jio Coin at a time where cryptocurrencies are not even considered a legal tender.
The Ambani’s are known for their unique and robust approach when it comes to businesses, which is one of the qualities that make him one of the world’s biggest billionaire. Reliance Jio Coin can be Reliance’s attempt at capturing the crypto market, which has the tendency to shake things up in the crypto community.
Reliance Jio Coin Launch Date
A total of 50 team members have been working on developing Jio Coin via blockchain technology that promises to create a transparent transaction system, assuring elimination in the cases of corruption.
The company is still developing the cryptocurrency while the Reliance Jio Coin launch date is yet to be revealed. The Jio Coin will be developed with protection technology, making the Jio Coin an even more reliable source of crypto.
Here are some of the reasons why cryptocurrencies are the future of digital transactions:
- Fraud Protection: Cryptos are digital and hence cannot be counterfeited or reversed arbitrarily by the sender.
- Identity Theft Protection: Cryptocurrency’s push mechanism allows the crypto holder to directly send crypto to the merchant without giving away any data about your identity, thereby helping protect identity theft.
- Access to All: Being a decentralized body, anyone living anywhere around the globe with a stable internet connection and a smartphone can be a part of the crypto community.
- No Transaction Fees: The transactions performed in cryptocurrency involve no transaction fees majorly.
Jio Coin Price Prediction
Though there has been no announcement that has been made officially regarding the Jio Coin price. However, it is predicted that one Jio Coin will cost around $1 or Rs 72 before it gets listed.
Note: Recently, the company made a public announcement about the fake website and applications that claim to offer Jio Coins in exchange for fiat currency. (5)
We’ll be updating this article as soon as the official statement regarding the Jio Coin Price is announced. Overall, Reliance Jio Coin holds the potential to be the biggest and only cryptocurrency of India once the government favors the cryptocurrency community.