Mukesh Ambani’s Reliance Jio Infocomm is planning to create its own cryptocurrency called ‘Jio Coin’
Looks like even Mukesh Ambani wants to jump on the crypto train, but not in our usual “let me buy 100 ripple” way. According to Live Mint, Mukesh Ambani wants to create a cryptocurrency called JioCoin. His elder son Akash Ambani is leading a team of 50 young professionals to work on blockchain technology, and one of its application could be cryptocurrency.
It’s a great news for Indians who trade cryptocurrency, because Ambani’s involvement in the scene could potentially mean that the government won’t ban it in the country. But as of now, the finance ministry, Arun Jaitley have warned crypto holders about the risks as it’s not yet legalized in the country because they are still “studying the matter.”
Unsurprisingly, this news has people hyped up on Twitter
— Vishesh Bhatt (@VisheshB7) January 12, 2018
Now that Reliance is planning its own crypto currency JioCoin, let’s see how Govt. changes its lanes.
— Nikhil Wad (@nikhilswad) January 12, 2018
— Abhishek 😎 (@singhsterabhi) January 12, 2018
wherever there is money, there is reliance. 🙂
Reliance coming up with their own #JioCoin
— Santosh Addagulla (@santoshspeed) January 11, 2018
It will be interesting to see government’s reaction to it. In the meantime, HODL!