Cryptocurrency JioCoin Planned By Indian Telecom Giant

Reliance Jio is Planning Their Own Cryptocurrency Named JioCoin

Reliance Jio is Planning Their Own Crypto-Currency Named JioCoin:- New Delhi: Reliance Industries is planning to Launch their Own Cryptocurrency as in the way of to Made JioCoin from their Company.

India-based mobile network operator Reliance Jio Infocomm (Jio) is reportedly planning to create its own cryptocurrency.

Livemint quotes a person familiar with the development saying, "The company plans to hire 50 young professionals with an average age of 25 years for Akash Ambani to lead".

The company also plans to develop blockchain applications such as smart contracts and supply chain management logistics.

It is a digital ledger for storing data including, but not limited to, financial transactions. The Information that is Held on the Block-Chain that through an Shared Database which Can be Accessed on a Real-time Basis. This data is stored on the cloud instead of storing on physical servers.

After disrupting the Indian telecom market, Reliance Jio is expected to delve into the world of blockchain technology and cryptocurrencies. Out of those options, one application is cryptocurrency. We can deploy smart contracts. However, Reliance Jio did not give any response on this issue.

Red Cross issues urgent call for blood donations following severe winter weather
Power Red donors give a concentrated dose of red blood cells during a single donation, allowing them to maximize their impact. While serving local hospitals is the first priority, the Red Cross can move blood products to where they're needed most.

Nifty ends at fresh life-time high
The rupee strengthened by 11 paise to 63.55 against the dollar on fresh selling of the U.S. currency by exporters and banks. The 50-share Nifty , after range-bound morning trade, spurted to touch an all-time high of 10,664.60 on a flurry of buying.

Crude Oil Price Steady as Gas, Diesel Stockpiles Soar
WTI light sweet crude oil was up 15 cents at USD61.80 a barrel, the highest since 2014. Bank Wealth Management, which oversees $142 billion in assets, said by telephone.

While the technology has mostly been used for cryptocurrencies so far, Reliance Jio plans to use it for supply chain management logistics, the official told Mint, adding that the whole project is "in the proposal stage". "Blockchain technology would come in handy there", the person said.

A lot of questions remain on Jio's intentions with the JioCoin as the Indian government is yet to provide clarity on the status of virtual currencies in India.

However, the Indian government and the Reserve Bank of India have warned users against virtual currencies.

"A committee under the chairmanship of secretary, department of economic affairs, is deliberating over all issues related to cryptocurrencies to propose specific actions to be taken", Jaitley said while speaking in the upper house.

There is real risk of investment bubble of the type in ponzi schemes which can result in sudden and prolonged crash exposing investors, especially retail consumers losing their hard earned money. This is how all the digital currencies worldwide work and Bitcoin has been the most popular of them all.

Related News:

  • Firefly Music Festival Announces 2018 Lineup

    Firefly Music Festival Announces 2018 Lineup

    The band has been working on a new album, the follow-up to 2013's AM, which is expected to be released sometime this year. Whether its the artists featured on the lineup or some broader issue with a festival itself, fans don't seem to be happy.
    Amir Khan's next big fight in ring, not media

    Amir Khan's next big fight in ring, not media

    Speaking ahead of last year's showdown between Floyd Mayweather Jr. and Conor McGregor, Khan said: "The only way I would take that Brook fight is if he left Eddie Hearn".
    Diet Coke has a brand-new look, and four new flavours

    Diet Coke has a brand-new look, and four new flavours

    Diet Coke and the new flavors will be packaged in sleek 12-ounce cans and sold as on-the-go singles and in 8-packs. Diet Coke sales have fallen as more people switch to other low-calorie drinks, such as flavored fizzy water.
  • Fox's Gambit Movie Just Lost Its Director

    Fox's Gambit Movie Just Lost Its Director

    But without a director, it seems like fans will waiting a while longer to see the card-throwing Cajun on the big screen again. Following a few more small delays, production on Verbinski's Gambit was set to finally begin in March .
    Faison takes issue with Sessions' marijuana directive

    Faison takes issue with Sessions' marijuana directive

    Senate, S.1689, the Marijuana Justice Act, would end marijuana prohibition at the federal level and turn it over to the states. As others have noted , the attorney general seems bent on proving you don't have to be stoned to be detached from reality.
    Turkish citizens traveling to United States  'face risk of arbitrary arrest' - Ankara

    Turkish citizens traveling to United States 'face risk of arbitrary arrest' - Ankara

    Foreign ministry says revise travel plans or act with caution because of risks of "terrorism" and arbitrary detention . A statement on Friday cited risks of "terrorist" attacks as well as arbitrary arrests in Turkey's Western ally.
  • Idaho $1000000 Raffle winning number announced

    Idaho $1000000 Raffle winning number announced

    Raffle tickets went on sale October 24 and sold out on December 12, the earliest sellout date since the game began in 2006. The identity of the lucky victor is revealed in tomorrow's Celt as well as an exclusive interview with the family.
    US Ambassador reassures Indians on H-1B visa fears

    US Ambassador reassures Indians on H-1B visa fears

    When asked about Sino-US ties, Juster noted, "We are interested in a constructive relationship". Bilateral trade has increased from approximately $ 20 billion in 2001 to $ 115 billion in 2016.
    Camila Cabello: 'I was hurt by Fifth Harmony's MTV VMA's performance'

    Camila Cabello: 'I was hurt by Fifth Harmony's MTV VMA's performance'

    Eventually, she was given an ultimatum: she can not make a solo album while, at the same, time performing with the group. That was what going solo was all about, anyway.
  • Delta Stock Soars 4.4% on Q4 Earnings Beat

    Delta Stock Soars 4.4% on Q4 Earnings Beat

    Hussman Strategic Advisors Inc decreased Goldcorp Inc New (NYSE:GG) stake by 125,000 shares to 325,000 valued at $4.21M in 2017Q3. Analysts expect DAL to grow earnings at a 9.57% annual rate over the next 5 years. 92,660 were accumulated by Oz Lp.
    USA  urges citizens to 'reconsider travel' to Pakistan

    USA urges citizens to 'reconsider travel' to Pakistan

    Travellers are told to "exercise increased caution in Tanzania due to crime, terrorism, and targeting of LGBTI persons". It has also asked citizens not to travel to Jammu and Kashmir while in India.
    John Cena returns to the Kids' Choice Awards

    John Cena returns to the Kids' Choice Awards

    The 2018 Kids' Choice Awards will also be held at The Forum again in Inglewood, Calif., however, a date still has to be announced. Well, now it's being reported that the company is planning to have John Cena face The Undertaker at this year's big show.


Most liked

Met Office issues snow and ice warning for parts of Aberdeenshire
They said: "Heavy rainfall expected later Friday, overnight and into early Saturday with falls of 30 to 50mm expected". Some bright or short sunny spells, but rather cloudy and misty in other parts. "Top afternoon temperatures 3 to 7C".

India beat Pakistan in Blind Cricket World Cup Match
For the Men in Green, the top scorer of the inning was Md Jail who added 90 runs at a healthy strike rate of nearly a run a ball. Seven ICC Under-19 Cricket World Cup matches will be played at Bay Oval including the final on Saturday, February 3, at 2pm.

Vermilion Parish teacher Deyshia Hargrave speaks at Abbeville rally
She was released from jail on bond on charges of "remaining after being forbidden" and resisting an officer, KATC reported . Fontana has not returned calls for an interview with the AP, but has defended his actions and that of the officer.

How to Redeem Beta Codes from GameStop & Amazon — Dragon Ball FighterZ
This led to an eventual call out by Sabat, who challenged Schemmel to an exhibition in the upcoming Dragon Ball FighterZ . Hit's signature attack is Time Skip, an ability that lets him jump forward in time by a tenth of a second.

Cindy Crawford recreates iconic Pepsi Super Bowl ad
A couple of years ago it replaced the people with emojis on giant Pepsi bottles for its PepsiMoji campaign. The brand is also returning to its Pepsi Stuff loyalty program first released in 1996.

Author, publisher won't back down on explosive Trump book
A White House spokesperson disputed the report , and said that Miller left the network on his own free will. Business Insider reported on Sunday that Miller refused to leave and had to be escorted off the set.

Three takeaways from Saints' win over Panthers
Panthers leading receiver Devin Funchess, too, is active as expected after being listed as questionable with a sore shoulder. When I heard the call, I said, 'Go make a play. "I'm not going to take the cowardly way and point somebody else out".

Terrorists yesterday, extremists today: Karnataka CM Siddaramaiah's U-turn
President Amit Shah on Wednesday acccused Karnataka Chief Minister Siddaramaiah's government of being anti-Hindu. The statement comes a day after Siddaramaiah said the BJP , RSS and Bajrang Dal were harbouring extremists.

HBO confirms Flight Of The Conchords special
New Zealand's fourth most popular folk band, Flight Of The Conchords, has confirmed they'll be returning to TV screens this year . Since then, McKenzie won an Oscar for writing songs for 2011's The Muppets , with Clement now co-starring on FX's Legion .

Radon test kits available
Confidential results are available online a few days later, or they can be mailed to the homeowner within approximately two weeks. After leaving the opened kit in the room for the recommended amount of monitoring time, send it to the laboratory for analysis.

Taylor Swift adds second show at US Bank Stadium
Taylor's spicy new vengeful persona is also a vastly more expensive one, and that's not necessarily translating to ticket sales. The cheapest is at $160 apiece for Swift's show at the NRG Stadium in Houston on September 29 and another costs $230.

Manchester police looking for convenience store armed robbery suspect
The victim of the carjacking refused to pursue charges, but charges were pending against the man for the robbery, police said. Police are looking for two suspects in connection with a robbery outside Walgreens at 17th and South Thursday night.

Blumhouse Dares You to Watch the Trailer for Truth or Dare
It's not my preferred genre, but I can get into them from time to time if I think it's going to be a really solid movie. Truth or Dare will star Lucy Hale ( Pretty Little Liars ) and Tyler Posey ( Teen Wolf ).

Trump's Address to Farm Bureau: 'Farm Country Is God's Country'
Trump praised farmers and touched on familiar topics, including patriotism and respect for the USA flag and national anthem. For estates worth more than the exemption, the federal tax rate remains 40 percent. "We can't have that".

Colorado homelessness programs to receive $30.6 million in federal grants
The Santa Ana, Anaheim/Orange County Continuum of Care will receive just under $23.5 million. In San Diego County, 48 separate grants were awarded, totaling $20.03 million.