People are eagerly waiting for JioCoin Review. The world of cryptocurrency has been faced with a lot of uncertainties in the minds of many people with a lot of these people wondering what the future of cryptocurrency will be. Recently, however, Reliance Jio Infocomm Ltd, a company based in India, is planning to start its own cryptocurrency which will be known as Jio Coin.
The Jio Coin Project is led by Mukesh Ambani’s son, Akash Ambani who plans to build a team of 50 young professionals who will work on the blockchain technology. This technology will also be used to develop applications such as supply chain management logistics and smart contracts.
- 1 Jio Coin Review- Is This Upcoming Cryptocurrency A Genuine One?
- 2 What Technology is Using for Jio Coin Project?
- 3 Jio Coin ICO Features Revealed!
- 4 How to Buy Jio Coin and How it Work?
- 5 Jio Coin Price Chart Predictions
- 6 Who is Behind Jio Coin Cryptocurrency?
- 7 Conclusion- Jio Coin By the Reliance Jio Might be a good Crypto-Investment Option!
Jio Coin Review- Is This Upcoming Cryptocurrency A Genuine One?
The blockchain is a digital log used to store data which includes financial transaction. Simply put, it is used to spread out information without copying it. The information is kept on blockchain with a shared database that can easily be accessed. The database is stored in the cloud, which enables unlimited storage. The most popular application of technology as we know it today has, without question is the cryptocurrency, and in the nearest future, the Jio company will be adding its own version of the crypto business namely Jio Coin project. One person has said that with Jio Coin ICO, smart contracts can be deployed as well as the supply of chain management logistics achieved. However, all these plans have only yet been proposed and should be achieved in the near future. In the meantime, everyone is still looking forward to it.
The JioCoin company, Reliance Jio, has, however, so far been quite silent on the matter and it’s very hard to find Jio Coin reviews even today. The company also looks forward to getting into what is called the Internet of Things (IoT). Here, blockchain technology would be a useful tool.
IoT is a network of electronic devices such as home appliances, smartphones, wearable devices and vehicles which are connected to the internet. The internet, in turn, enables these objects to connect to one another and exchange data.
What Technology is Using for Jio Coin Project?
According to experts, Jio Coin blockchain has the potential to address security risks to the Internet of Things (IoT). This is because it labels each block of data providing a shield which protects any tampering with data.
It is worthy of note that the Indian government has passed a warning against cryptocurrencies with the reason that virtual currencies do not have the backing of assets and so poses risks which include things such as money laundering. As I mentioned earlier in this Jio Coin review, the Indian government has described the cryptocurrency business as a Ponzi scheme. Even the ministry of finance has pointed out that virtual currencies are not legal tender and therefore, are not protected. The ministry noted that cryptocurrencies or virtual currencies which include Bitcoin do not have any intrinsic value and do not have the backing of any sort of assets. The ministry said that the price of bitcoin and other virtual currencies are totally just a matter of speculation which is leading to spurts and easy changes in their prices.
Here’s are some of the reasons, in detail, why the government is skeptical about cryptocurrency;
- The RBI (Reserve Bank of India) says that virtual currency since they are in digital form, are stored in digital-electronic media which are called electronic wallets. Hence, they are susceptible to losses which could come from hacking, compromise of access credentials, malware attack among other things. Since they are not invented by or traded via an authorized central agency or registry, the loss of the e-wallet may result permanently losing the VCs which are held in them.
- Payments made by virtual currency are done on a peer-to-peer basis void of an authorized central agency regulating such payments. Therefore, there is no laid down the framework for recourse to customer problems or chargebacks or disputes.
- Like I mentioned in this Jio Coin review, There is no backing of assets for virtual currency. Hence, their value relies mostly on speculation. A high volatility in the value of such currency has also been noticed quite recently. This leaves the users exposed to the potential for the loss because of such volatility in value.
- So far, cryptocurrencies are traded on platforms of exchange created under various powers which have an unclear legal status. As a result, the traders of virtual currency on platforms like those are exposed to legal risks and financial risks.
- Reports have it that the usage of digital currencies is mostly for illicit and illegal activities. (It should be noted that this is not always the case). The absence of the information of counterparties in such peer-to-peer nameless systems could push the users to commit unintentional offenses of anti-money laundering as well as combat the financing of terrorism laws.
It is also worthy of note that, just recently, Bitcoin dropped as much as 12 percent to $12. In spite of all these, Reliance Jio is still coming up with its own JioCoin cryptocurrency in the very near future.
Jio Coin ICO Features Revealed!
Here are some of the proposed unique features of the JioCoin ICO cryptocurrency:
- It will have a 50-member team if experienced professionals.
- It will make use of the blockchain technology
- It will also use the Internet of Things (IoT) technology.
How to Buy Jio Coin and How it Work?
JioCoin project aspires to do a number of things and using a number of technological methods. Let’s take a look at some of them in this JioCoin review;
- Jio coin aspires to build a team of 50 young professionals who will be 25 years and below.
- It aspires to work with the blockchain technology which will be used to develop applications like supply chain management logistics as well as smart contracts.
- It will also work with what is called the Internet of Things (IoT) which will work with the blockchain enabling devices to connect and exchange data.
Jio Coin Price Chart Predictions
As it is, the future of JioCoin cryptocurrency is not yet known and everybody is looking to see what it will bring. However, the business which by the way, will be run by a team of professionals and experts, has shown a lot of promise. With the methods which it proposes and the team of professionals which it intends to build, Jio Coin is a cryptocurrency business that looks reliable and true. In all, however, we can only wait and see what Jio Coin brings.
Who is Behind Jio Coin Cryptocurrency?
According to recent JioCoin reviews and news, The person behind JioCoin program is a 26-year-old Indian businessman named Akash, Mukesh-Ambani. He is the chief of the strategy of Jio, a company which specializes in providing 4G services. He is also the oldest son of Mukesh and Nita-Ambani, who run the Reliance Foundation].
Ambani has said that his company, Jio, was evolving day by day like a startup. Jio which is a provider of 4G data services in a collection of online services was launched in 2016. Recently, Akash Ambani is planning to add another star to his business line with the creation of the Jio Coin.
Conclusion- Jio Coin By the Reliance Jio Might be a good Crypto-Investment Option!
As I mentioned earlier in this Jio Coin review, The cryptocurrency world is becoming more and more popular as the days go by. With its growth, it is attracting even more and more opinions from different people. With the skepticism which a lot of people including the government have expressed concerning cryptocurrency, it may be safe to say that it is considered worrisome. However, it is obvious that the Jio company has not been deterred because regardless of anything, cryptocurrency has, in recent years, done great as a business. Now, we look forward to Akash Ambani’s invention which will be launched soon.