Mukesh Ambani-led Jio Platforms has partnered with internet technology company Polygon Labs. And ever since the announcement, ‘JioCoin’ has become the talk of the town on social media with users sharing screenshots online. Several users shared images of ‘JioCoin’ on X, despite the company not making an official announcement about the same. Bitinning Founder Kashif Raza speculated that Jio may use ‘JioCoin’ for mobile recharges or gas purchases at Reliance stations.
🇮🇳Big Breaking News:- Jiocoin Launched On Polygon. Reliance Jio, the world's largest mobile operator, has just surprised the crypto world by officially launching Jiocoins! What are Jiocoins? Jiocoins are digital tokens issued on Polygon. Jiocoins is a mechanism to reward… pic.twitter.com/MNRb5HGa08
Jio, India’s biggest telecom company, has apparently launched a digital token called “JioCoin” on the Polygon network. While the company hasn’t made an official announcement in this regard, users spotted the mention of JioCoin on JioSphere, the company’s web browser for Android and iOS devices.
Interestingly, Reliance’s tech subsidiary, Jio Platforms, has partnered with Polygon Labs to bring Web3 and blockchain technology to India. This partnership will reportedly enable Jio users to enjoy better privacy and control over their data, while accessing new and innovative services.
What Is JioCoin?
According to the report by CoinDCX, JioCoin is the latest project from Reliance Industries, which is bringing blockchain technology to India. Backed by Jio, JioCoin aims to make digital transactions easier and more secure. This is also said to be the entry of India’s biggest conglomerate into the world of cryptos.
JioCoin is reportedly designed to complement Jio’s digital services, including payments, online shopping, and data storage. According to CoinDCX, this coin may further enhance financial inclusion in India as the country adopts blockchain technology.
According to CoinDCX, the launch of JioCoin could further increase cryptocurrency adoption in India. By educating its large customer base about blockchain technology, Reliance may introduce crores of people to the crypto market. This could potentially lead to other Indian companies exploring blockchain, which may result in innovation in finance, healthcare, and other sectors, adds CoinDCX.
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