{"id":18451,"date":"2018-01-12T14:39:43","date_gmt":"2018-01-12T14:39:43","guid":{"rendered":"http:\/\/punjabnews24.com\/?p=18451"},"modified":"2018-01-12T14:41:35","modified_gmt":"2018-01-12T14:41:35","slug":"jiocoin-reliance-planning-own-cryptocurrency-akash-ambani-to-lead-project","status":"publish","type":"post","link":"https:\/\/blastingskyhawk.com\/english\/jiocoin-reliance-planning-own-cryptocurrency-akash-ambani-to-lead-project\/","title":{"rendered":"JioCoin: Reliance planning own cryptocurrency, Akash Ambani to lead project"},"content":{"rendered":"<p>New Delhi : Reliance Jio is planning to create a cryptocurrency of its own called &#8216;JioCoin&#8217;, and will put together a young team of 50-odd professionals under Akash Ambani to kickstart the project. The Ambani scion is reportedly interested in developing blockchain technology to aid the development of smart contacts and cryptocurrency payment-enabled supply chains.<br \/>\nBlockchain is a digital ledger that works as a book-keeper for cryptocurrencies.  <script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- punjabnews24 --><br \/>\n<ins class=\"adsbygoogle\"\n     style=\"display:block\"\n     data-ad-client=\"ca-pub-6565419310935097\"\n     data-ad-slot=\"6948863062\"\n     data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><br \/>\n&#8216;Jio&#8217; a leap into Reliance&#8217;s future?<br \/>\nReliance Jio has disrupted India&#8217;s telecom sector in the past year-and-a-half by offering services at hyper-competitive prices, forcing other telcos to follow suit.<br \/>\nReliance Industries, the oil-to-telecom conglomerate that holds Jio is reportedly mulling an IPO in late 2018 or early 2019. The group has already pumped in $31 billion worth of investment in Jio.<script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- punjabnews24 --><br \/>\n<ins class=\"adsbygoogle\"\n     style=\"display:block\"\n     data-ad-client=\"ca-pub-6565419310935097\"\n     data-ad-slot=\"6948863062\"\n     data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><br \/>\na Jio official as saying that the company aspires to get into the Internet-of-things business and blockchain technology is supposed to help its foray. IoT is technology that allows physical objects like wearable technology, smartphones, other electronic devices to be connected.  From smart cities to driverless cars and smart factories, and smart homes the Internet of Things is supposed to enter every aspect of people&#8217;s lives.<br \/>\n<script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- punjabnews24 --><br \/>\n<ins class=\"adsbygoogle\"\n     style=\"display:block\"\n     data-ad-client=\"ca-pub-6565419310935097\"\n     data-ad-slot=\"6948863062\"\n     data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><br \/>\nMukesh Ambani earlier said that group would take big leaps in the digital services sector. The Reliance group has changed its core business quite a few times over the decades- from dealing in spices to exporting textiles, to becoming a petrochemical behemoth and now disrupting the telecom sector.<script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- punjabnews24 --><br \/>\n<ins class=\"adsbygoogle\"\n     style=\"display:block\"\n     data-ad-client=\"ca-pub-6565419310935097\"\n     data-ad-slot=\"6948863062\"\n     data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><br \/>\nRegulatory hurdles?<br \/>\nHowever, it would be interesting to see how the country&#8217;s financial mandarins warm up to the idea.<br \/>\nIn December last year, the Reserve Bank of India had cautioned &#8220;users, holders and traders&#8221; of Bitcoins about the security-related risks associated with dealing in such virtual currencies, as reported by Business Standard. &#8220;In the wake of a significant spurt in the valuation of many VCs and rapid growth in Initial Coin Offerings (ICOs), RBI reiterates the concerns,&#8221; the central bank said in a statement.<script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- punjabnews24 --><br \/>\n<ins class=\"adsbygoogle\"\n     style=\"display:block\"\n     data-ad-client=\"ca-pub-6565419310935097\"\n     data-ad-slot=\"6948863062\"\n     data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><br \/>\nLast year, The Income Tax Department had conducted survey operations at major Bitcoin exchanges across the country on suspicion of alleged tax evasion, as reported earlier by the Business Standard.<br \/>\nThe chairman of India&#8217;s capital markets regulator, Ajay Tyagi, had earlier said that the Sebi, the RBI and the government were locked in a huddle to determine the legal oversight for cryptocurrencies such as bitcoin.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>New Delhi : Reliance Jio is planning to create a cryptocurrency of its own called &#8216;JioCoin&#8217;, and will put together a young team of 50-odd professionals under Akash Ambani to kickstart the project. The Ambani scion is reportedly interested in developing blockchain technology to aid the development of smart contacts and cryptocurrency payment-enabled supply chains. 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