After Jio SIM and Phone Reliance is planning to introduce Jio Coin.
If believe on reports, Mukesh Ambani may soon come with Jio currency, Jio Coins.
A Mint report claims, the 50-member team mandate is working on block chain technology, which is being helmed by Akash, Ambani’s elder son.
The report comes at a time when Bitcoin has taken a major hit worldwide after South Korea reiterated a proposed ban on such venues, fueling concern that a crackdown will erode one of the world’s biggest sources of demand for digital currencies.
Future of Jio Coin
Bitcoin dropped as much as 12 percent to $12,801, before paring losses to about 6 per cent, according to data compiled by Bloomberg. Ripple fell 14 per cent and ethereum slumped 4 per cent.
Governments around the world are increasing scrutiny of Cryptocurrencies as surging prices attract everyone from individual investors to Wall Street banks.
The cryptocurrency market has remained under pressure this week, as prices of digital currencies, including bitcoin (BTC) and ripple, tumbled nearly 20 per cent between January 5 and 12 amid talks that South Korea was mulling a trading ban on digital currencies
Some analysts feel such an action by Seoul may push other nations to consider similar moves.
A Wall Street consultancy on Thursday predicted a major crash in the cryptocurrency market this year.